Citigroup Issues Pessimistic Forecast for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PIIGet Free Report) had its price target decreased by stock analysts at Citigroup from $73.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 6.07% from the stock’s previous close.

A number of other research firms have also recently weighed in on PII. Truist Financial cut their price target on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday, January 7th. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Robert W. Baird reduced their price objective 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, Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 price target (down from $81.00) on shares of Polaris in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.45.

View Our Latest Report on Polaris

Polaris Stock Down 2.4 %

PII opened at $53.74 on Thursday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The business’s fifty day moving average is $61.14 and its two-hundred day moving average is $73.14. Polaris has a one year low of $52.77 and a one year high of $100.91. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 6.02 and a beta of 1.53.

Polaris (NYSE:PIIGet Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same period last year, the business earned $2.71 earnings per share. The company’s revenue for the quarter was down 23.4% on a year-over-year basis. Analysts anticipate that Polaris will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Polaris

Hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Polaris by 0.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 91,612 shares of the company’s stock worth $7,174,000 after purchasing an additional 831 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after buying an additional 96,194 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Polaris by 67.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,657 shares of the company’s stock worth $365,000 after acquiring an additional 1,881 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Polaris in the 2nd quarter valued at $1,211,000. Finally, Sei Investments Co. lifted its holdings in shares of Polaris by 31.0% during the 2nd quarter. Sei Investments Co. now owns 3,601 shares of the company’s stock valued at $282,000 after acquiring an additional 853 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Polaris (NYSE:PII)

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