Polaris (NYSE:PII) Price Target Cut to $84.00 by Analysts at Robert W. Baird

Polaris (NYSE:PII) had its price objective lowered by Robert W. Baird from $85.00 to $84.00 in a research note released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on PII. Citigroup reduced their price objective on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. DA Davidson raised Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective for the company in a research note on Thursday, July 25th. Royal Bank of Canada decreased their target price on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 24th. KeyCorp dropped their price target on Polaris from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Longbow Research reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $87.09.

Polaris Price Performance

Shares of Polaris stock opened at $71.25 on Wednesday. The stock has a market cap of $3.97 billion, a P/E ratio of 19.90, a P/E/G ratio of 7.48 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 1.21. The stock’s fifty day moving average is $81.58 and its 200 day moving average is $81.67. Polaris has a one year low of $68.59 and a one year high of $100.91.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was down 23.4% compared to the same quarter last year. During the same period last year, the business earned $2.71 EPS. Sell-side analysts anticipate that Polaris will post 3.25 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.66 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.64 annualized dividend and a yield of 3.71%. Polaris’s payout ratio is currently 73.74%.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JLB & Associates Inc. boosted its stake in Polaris by 0.5% during the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock worth $1,917,000 after buying an additional 120 shares during the period. Allspring Global Investments Holdings LLC raised its position in Polaris by 14.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after purchasing an additional 169 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in Polaris by 2.4% in the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after purchasing an additional 172 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its position in shares of Polaris by 1.2% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after buying an additional 187 shares during the period. Finally, Isthmus Partners LLC grew its stake in shares of Polaris by 5.0% during the second quarter. Isthmus Partners LLC now owns 4,011 shares of the company’s stock valued at $314,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.