Polaris (NYSE:PII) Price Target Cut to $97.00

Polaris (NYSE:PII) had its price target lowered by investment analysts at Royal Bank of Canada from $103.00 to $97.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 16.36% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Truist Financial lowered their target price on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a research note on Wednesday. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Monday, April 8th. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $113.00 in a research note on Wednesday, January 17th. DA Davidson reissued a “neutral” rating and set a $80.00 target price on shares of Polaris in a research note on Tuesday, March 5th. Finally, BMO Capital Markets lowered their target price on shares of Polaris from $100.00 to $95.00 and set a “market perform” rating for the company in a research note on Wednesday, January 31st. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Polaris currently has a consensus rating of “Hold” and an average target price of $100.27.

Polaris Price Performance

Shares of NYSE:PII opened at $83.36 on Wednesday. The firm has a market cap of $4.71 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.50 and a beta of 1.60. The firm’s fifty day moving average is $92.75 and its 200-day moving average is $91.57. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. Polaris’s revenue was down 20.3% compared to the same quarter last year. Sell-side analysts predict that Polaris will post 7.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PII. Creekmur Asset Management LLC bought a new position in shares of Polaris during the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in Polaris in the fourth quarter valued at approximately $31,000. Verity & Verity LLC bought a new position in Polaris during the first quarter valued at $37,000. First United Bank & Trust purchased a new stake in Polaris in the fourth quarter worth $40,000. Finally, Larson Financial Group LLC increased its position in Polaris by 536.5% in the third quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock worth $42,000 after buying an additional 338 shares during the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.