Polaris (NYSE:PII) Sets New 52-Week Low – Here’s Why

Polaris Inc. (NYSE:PII)’s stock price reached a new 52-week low on Thursday . The company traded as low as $39.29 and last traded at $42.66, with a volume of 230994 shares trading hands. The stock had previously closed at $42.56.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird reduced their price objective on shares of Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Citigroup lowered shares of Polaris from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $49.00 to $33.00 in a research note on Thursday. Roth Mkm reduced their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Bank of America reduced their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Finally, BMO Capital Markets reduced their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.83.

Polaris Stock Performance

The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.35 billion, a PE ratio of 21.40, a P/E/G ratio of 13.95 and a beta of 1.54. The business’s fifty day moving average is $47.26 and its 200-day moving average is $62.78.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, research analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.67 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.68 annualized dividend and a dividend yield of 6.39%. This is a boost from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio (DPR) is presently 136.73%.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of Polaris by 386.5% during the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock valued at $29,000 after buying an additional 402 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Polaris during the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC raised its position in shares of Polaris by 295.4% during the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock valued at $30,000 after buying an additional 387 shares during the last quarter. Quarry LP raised its position in shares of Polaris by 187.4% during the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 buying an additional 677 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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.