Sierra Summit Advisors LLC Purchases 468 Shares of Polaris Inc. (NYSE:PII)

Sierra Summit Advisors LLC increased its position in shares of Polaris Inc. (NYSE:PII) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,424 shares of the company’s stock after purchasing an additional 468 shares during the period. Sierra Summit Advisors LLC’s holdings in Polaris were worth $268,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PII. New England Capital Financial Advisors LLC purchased a new stake in Polaris in the first quarter worth $25,000. Creekmur Asset Management LLC bought a new position in shares of Polaris in the fourth quarter worth about $27,000. Bessemer Group Inc. increased its stake in Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares during the period. Security National Bank bought a new stake in Polaris during the 4th quarter valued at about $47,000. Finally, Signaturefd LLC lifted its holdings in Polaris by 1,931.3% during the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after buying an additional 618 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on PII shares. Citigroup dropped their target price on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Roth Mkm lowered their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Thursday, July 25th. Finally, Truist Financial decreased their price objective on Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.18.

Polaris Trading Up 2.3 %

Shares of NYSE PII opened at $83.45 on Tuesday. Polaris Inc. has a 1-year low of $71.90 and a 1-year high of $108.02. The business has a fifty day moving average price of $81.15 and a 200 day moving average price of $84.43. The stock has a market capitalization of $4.72 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 6.92 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the company posted $2.42 earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. Equities research analysts expect that Polaris Inc. will post 3.79 EPS for the current fiscal year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.16%. The ex-dividend date was Tuesday, September 3rd. Polaris’s dividend payout ratio is currently 38.71%.

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.