Truist Financial Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target lowered by Truist Financial from $60.00 to $55.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Several other analysts have also issued reports on PII. Robert W. Baird cut their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. DA Davidson cut their price objective on shares of Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, January 17th. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Morgan Stanley reiterated an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Finally, StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.82.

Polaris Price Performance

Shares of PII opened at $47.68 on Wednesday. The firm has a fifty day simple moving average of $59.03 and a two-hundred day simple moving average of $71.91. The firm has a market cap of $2.66 billion, a PE ratio of 24.33, a P/E/G ratio of 14.41 and a beta of 1.53. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 1.27. Polaris has a 1-year low of $47.53 and a 1-year high of $100.91.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. On average, equities analysts anticipate that Polaris will post 1.14 EPS for the current year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.67 per share. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Monday, March 3rd. Polaris’s dividend payout ratio (DPR) is 134.69%.

Hedge Funds Weigh In On Polaris

Several hedge funds have recently modified their holdings of PII. Venturi Wealth Management LLC grew its stake in Polaris by 534.5% during 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 in the last quarter. Blue Trust Inc. boosted its holdings in shares of Polaris by 2,431.3% during 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. Quarry LP boosted its holdings in shares of Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. GAMMA Investing LLC grew 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 valued at $56,000 after purchasing an additional 677 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 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.