Citigroup Cuts Polaris (NYSE:PII) Price Target to $83.00

Polaris (NYSE:PII) had its target price reduced by Citigroup from $86.00 to $83.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. DA Davidson lowered their price target on Polaris from $80.00 to $75.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. KeyCorp decreased their target price on Polaris from $105.00 to $90.00 and set an overweight rating for the company in a research report on Wednesday. Royal Bank of Canada decreased their target price on Polaris from $97.00 to $82.00 and set a sector perform rating for the company in a research report on Wednesday. Roth Mkm decreased their target price on Polaris from $92.00 to $79.00 and set a neutral rating for the company in a research report on Wednesday. Finally, Robert W. Baird decreased their target price on Polaris from $95.00 to $85.00 and set an outperform rating for the company in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Polaris has an average rating of Hold and a consensus target price of $89.18.

Polaris Price Performance

PII opened at $82.71 on Wednesday. The stock has a 50-day moving average price of $79.33 and a 200-day moving average price of $86.79. 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 firm has a market cap of $4.61 billion, a PE ratio of 12.13, a P/E/G ratio of 7.33 and a beta of 1.53. Polaris has a 1 year low of $71.90 and a 1 year high of $138.49.

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

Polaris Announces Dividend

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

Institutional Investors Weigh In On Polaris

A number of large investors have recently made changes to their positions in the company. Lantz Financial LLC grew its stake in shares of Polaris by 0.8% during the 1st quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock valued at $1,480,000 after purchasing an additional 114 shares during the period. JLB & Associates Inc. grew its stake in shares of Polaris by 0.5% during the 2nd quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after acquiring an additional 120 shares during the period. Fifth Third Bancorp grew its stake in shares of Polaris by 3.3% during the 1st quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock valued at $377,000 after acquiring an additional 122 shares during the period. New York Life Investment Management LLC grew its stake in shares of Polaris by 2.8% during the 4th quarter. New York Life Investment Management LLC now owns 6,088 shares of the company’s stock valued at $577,000 after acquiring an additional 167 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after acquiring an additional 169 shares during the period. 88.06% of the stock is currently owned by institutional investors.

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.