Polaris (NYSE:PII) Upgraded to “Buy” at DA Davidson

Polaris (NYSE:PII) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat reports. The firm presently has a $87.00 price objective on the stock. DA Davidson’s price objective suggests a potential upside of 5.19% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Roth Mkm decreased their target price on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird decreased their target price on Polaris from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday. KeyCorp decreased their target price on Polaris from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada decreased their target price on Polaris from $97.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Truist Financial reduced their price objective on Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $89.18.

Polaris Stock Up 4.7 %

Polaris stock opened at $82.71 on Thursday. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 12.13, a price-to-earnings-growth ratio of 7.00 and a beta of 1.53. Polaris has a 52 week low of $71.90 and a 52 week high of $138.49. The business’s 50-day moving average price is $79.36 and its 200 day moving average price is $86.86. The company has a quick ratio of 0.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the business posted $2.42 earnings per share. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Polaris will post 3.8 earnings per share for the current year.

Institutional Investors Weigh In On Polaris

Institutional investors have recently modified their holdings of the company. New England Capital Financial Advisors LLC acquired a new stake in shares of Polaris in the first quarter valued at $25,000. Creekmur Asset Management LLC acquired a new position in Polaris during the 4th quarter worth $27,000. Verity & Verity LLC acquired a new position in Polaris during the 1st quarter worth $37,000. Bessemer Group Inc. grew its stake in Polaris by 174.1% during the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after purchasing an additional 235 shares in the last quarter. Finally, First United Bank & Trust acquired a new position in Polaris during the 4th quarter worth $40,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.