Bank of America Lowers Polaris (NYSE:PII) Price Target to $85.00

Polaris (NYSE:PII) had its price objective reduced by Bank of America from $86.00 to $85.00 in a report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently issued reports on PII. Roth Mkm reduced their target price on Polaris from $92.00 to $79.00 and set a neutral rating on the stock in a research note on Wednesday. Longbow Research restated a neutral rating on shares of Polaris in a research report on Wednesday. Truist Financial dropped their price target on Polaris from $92.00 to $82.00 and set a hold rating on the stock in a research report on Monday, July 8th. DA Davidson dropped their price target on Polaris from $80.00 to $75.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Finally, KeyCorp dropped their price target on Polaris from $105.00 to $90.00 and set an overweight rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of Hold and an average price target of $89.18.

Polaris Price Performance

Shares of Polaris stock opened at $82.71 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42. The business’s 50 day simple moving average is $79.33 and its two-hundred day simple moving average is $86.79. The stock has a market capitalization of $4.67 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 7.00 and a beta of 1.53. Polaris has a one year low of $71.90 and a one year high of $138.49.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the firm earned $2.42 earnings per share. Polaris’s revenue for the quarter was down 11.5% on a year-over-year basis. Analysts forecast that Polaris will post 3.8 EPS for the current year.

Polaris Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, September 3rd. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PII. SG Americas Securities LLC purchased a new position in shares of Polaris in the fourth quarter worth $209,000. Mutual Advisors LLC purchased a new position in shares of Polaris in the fourth quarter worth $207,000. CoreCap Advisors LLC purchased a new position in shares of Polaris in the fourth quarter worth $239,000. Ritholtz Wealth Management raised its stake in shares of Polaris by 8.9% in the fourth quarter. Ritholtz Wealth Management now owns 2,359 shares of the company’s stock worth $224,000 after purchasing an additional 192 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Polaris by 1,286.0% in the fourth quarter. Blue Trust Inc. now owns 693 shares of the company’s stock worth $72,000 after purchasing an additional 643 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About Polaris

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.