Polaris (NYSE:PII) Price Target Cut to $57.00 by Analysts at Citigroup

Polaris (NYSE:PII) had its target price decreased by Citigroup from $73.00 to $57.00 in a research report report published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada dropped their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Truist Financial lowered their target price on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. Robert W. Baird dropped their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Finally, KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris has a consensus rating of “Hold” and an average target price of $75.45.

Polaris Price Performance

Polaris stock opened at $54.23 on Thursday. The stock has a fifty day moving average of $60.88 and a 200-day moving average of $73.01. The stock has a market capitalization of $3.02 billion, a P/E ratio of 15.15, a price-to-earnings-growth ratio of 6.05 and a beta of 1.53. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. Polaris has a 52 week low of $52.62 and a 52 week high of $100.91.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The company had revenue of $1.72 billion during 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 firm’s revenue was down 23.4% compared to the same quarter last year. During the same period last year, the company posted $2.71 EPS. On average, sell-side analysts expect that Polaris will post 3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

Hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC boosted its holdings in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after acquiring an additional 294 shares during the last quarter. Quarry LP lifted its position in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the period. Blue Trust Inc. boosted its stake in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after purchasing an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Polaris in the 2nd quarter valued at $57,000. Finally, GAMMA Investing LLC increased its position in shares of Polaris by 232.6% during the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after buying an additional 677 shares during the period. 88.06% of the stock is currently owned by institutional investors.

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.