Polaris (NYSE:PII) Hits New 12-Month Low After Analyst Downgrade

Polaris Inc. (NYSE:PII)’s stock price hit a new 52-week low during trading on Wednesday after KeyCorp downgraded the stock from an overweight rating to a sector weight rating. The company traded as low as $55.50 and last traded at $56.07, with a volume of 91350 shares trading hands. The stock had previously closed at $58.11.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a research note on Monday, December 30th. Truist Financial lowered their price objective on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday. DA Davidson cut their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Polaris has a consensus rating of “Hold” and an average target price of $84.00.

Institutional Investors Weigh In On Polaris

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Polaris by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after buying an additional 183 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Polaris by 12.2% during the third quarter. Franklin Resources Inc. now owns 169,004 shares of the company’s stock valued at $13,745,000 after acquiring an additional 18,418 shares during the period. Virtu Financial LLC bought a new stake in Polaris during the third quarter worth approximately $535,000. Finally, Toronto Dominion Bank lifted its position in Polaris by 2.9% in the third quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock worth $1,372,000 after purchasing an additional 465 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Polaris Trading Down 3.0 %

The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The business has a 50 day simple moving average of $64.29 and a 200-day simple moving average of $74.78. The stock has a market capitalization of $3.14 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company’s quarterly revenue was down 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 earnings per share. On average, analysts predict that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

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.