Polaris (NYSE:PII) Given New $97.00 Price Target at Royal Bank of Canada

Polaris (NYSE:PII) had its price target reduced by Royal Bank of Canada from $103.00 to $97.00 in a research note released on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

Several other equities research analysts have also issued reports on the company. Truist Financial dropped their price target on Polaris from $96.00 to $92.00 and set a hold rating for the company in a research note on Wednesday. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target for the company in a research note on Monday, April 8th. Bank of America assumed coverage on Polaris in a research note on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target for the company. Morgan Stanley raised Polaris from an equal weight rating to an overweight rating and lifted their price target for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. Finally, BMO Capital Markets dropped their price target on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Polaris has an average rating of Hold and a consensus price target of $100.27.

Polaris Price Performance

Polaris stock opened at $85.21 on Wednesday. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49. The business has a 50-day simple moving average of $92.86 and a 200 day simple moving average of $91.61. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.35 and a beta of 1.60.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, research analysts forecast that Polaris will post 7.97 earnings per share for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Thursday, February 29th. This is a positive change from Polaris’s previous quarterly dividend of $0.65. Polaris’s payout ratio is 38.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PII. Confluence Investment Management LLC bought a new position in Polaris during the 1st quarter valued at approximately $108,890,000. Verity & Verity LLC bought a new position in Polaris during the 1st quarter valued at approximately $37,000. Qube Research & Technologies Ltd raised its position in Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after purchasing an additional 266,887 shares during the last quarter. AQR Capital Management LLC raised its position in Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after purchasing an additional 255,777 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after purchasing an additional 202,794 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles in the United States, Canada, and internationally. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; and moto-roadsters, quadricycles, and boats.