Polaris (NYSE:PII) Hits New 1-Year Low Following Analyst Downgrade

Polaris Inc. (NYSE:PII)’s stock price reached 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.

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

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently bought and sold shares of PII. Kiltearn Partners LLP boosted its stake in shares of Polaris by 147.9% during the 3rd quarter. Kiltearn Partners LLP now owns 154,700 shares of the company’s stock worth $12,877,000 after buying an additional 92,300 shares during the last quarter. FMR LLC raised its holdings in shares of Polaris by 22.0% in the 3rd quarter. FMR LLC now owns 133,665 shares of the company’s stock valued at $11,126,000 after purchasing an additional 24,103 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company’s stock worth $2,231,000 after acquiring an additional 22,648 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Polaris by 167.1% during the third quarter. Victory Capital Management Inc. now owns 43,762 shares of the company’s stock worth $3,643,000 after acquiring an additional 27,375 shares during the period. Finally, Benjamin Edwards Inc. boosted its stake in shares of Polaris by 8,867.5% in the third quarter. Benjamin Edwards Inc. now owns 63,938 shares of the company’s stock valued at $5,322,000 after buying an additional 63,225 shares during the period. 88.06% of the stock is owned by institutional investors.

Polaris Trading Down 3.0 %

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

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

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.66 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.68%. Polaris’s dividend payout ratio is currently 73.74%.

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.