Polaris (NYSE:PII) Reaches New 1-Year Low at $75.31

Polaris Inc. (NYSE:PII) shares hit a new 52-week low on Monday . The stock traded as low as $75.31 and last traded at $75.34, with a volume of 285187 shares changing hands. The stock had previously closed at $78.31.

Analysts Set New Price Targets

PII has been the subject of several analyst reports. Truist Financial cut their price target on shares of Polaris from $96.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Bank of America began coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price objective for the company. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research report on Monday, April 8th. DA Davidson reaffirmed a “neutral” rating and set a $80.00 price objective on shares of Polaris in a research note on Tuesday, March 5th. Finally, Robert W. Baird lowered their target price on Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.27.

Polaris Price Performance

The stock has a market capitalization of $4.27 billion, a PE ratio of 11.08, a PEG ratio of 2.70 and a beta of 1.53. The company has a quick ratio of 0.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The firm’s fifty day moving average price is $82.01 and its two-hundred day moving average price is $88.74.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.17. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, equities analysts predict that Polaris Inc. will post 8.01 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend was Monday, June 3rd. Polaris’s payout ratio is 38.71%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Polaris by 2.4% in the fourth quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after purchasing an additional 160,918 shares in the last quarter. Vanguard Group Inc. lifted its position in Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares during the period. The Manufacturers Life Insurance Company grew its position in Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after purchasing an additional 202,794 shares during the period. Confluence Investment Management LLC acquired a new position in shares of Polaris in the 1st quarter valued at about $108,890,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Polaris by 10.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock worth $80,663,000 after buying an additional 82,779 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.