Polaris (NYSE:PII) Given Equal Weight Rating at Morgan Stanley

Polaris (NYSE:PII)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $60.00 price objective on the stock, down from their prior price objective of $81.00. Morgan Stanley’s price target points to a potential upside of 8.17% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. DA Davidson lowered their target price on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial cut their price target on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird dropped their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Finally, KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Polaris has a consensus rating of “Hold” and an average target price of $77.82.

Polaris Stock Performance

Shares of PII stock opened at $55.47 on Tuesday. The stock has a 50-day moving average of $61.64 and a 200-day moving average of $73.41. Polaris has a one year low of $52.77 and a one year high of $100.91. The stock has a market cap of $3.09 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 5.30 and a beta of 1.53. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share 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 during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company’s revenue for the quarter was down 23.4% on a year-over-year basis. As a group, sell-side analysts expect that Polaris will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently modified their holdings of PII. The Manufacturers Life Insurance Company grew its position in shares of Polaris by 3.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after purchasing an additional 69,844 shares in the last quarter. Confluence Investment Management LLC grew its position in Polaris by 0.7% during the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after buying an additional 6,724 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Polaris by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after acquiring an additional 96,194 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Polaris by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock valued at $46,232,000 after acquiring an additional 171,366 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Polaris by 11.1% during the 2nd quarter. ProShare Advisors LLC now owns 359,039 shares of the company’s stock valued at $28,116,000 after acquiring an additional 35,952 shares during the period. 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.