Polaris (NYSE:PII) Price Target Lowered to $73.00 at Royal Bank of Canada

Polaris (NYSE:PII) had its price objective trimmed by Royal Bank of Canada from $82.00 to $73.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities analysts have also recently issued reports on PII. Citigroup dropped their target price on Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. BMO Capital Markets dropped their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird reduced their target price on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday. DA Davidson upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Thursday, July 25th. Finally, Truist Financial cut their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $87.36.

Polaris Stock Performance

NYSE:PII opened at $69.68 on Wednesday. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 10.22, a price-to-earnings-growth ratio of 7.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.40. Polaris has a 1-year low of $69.36 and a 1-year high of $100.91. The firm’s fifty day moving average price is $82.04 and its 200 day moving average price is $82.04.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. On average, sell-side analysts expect that Polaris will post 3.66 EPS for the current year.

Hedge Funds Weigh In On Polaris

Hedge funds have recently added to or reduced their stakes in the business. Ballentine Partners LLC lifted its holdings in shares of Polaris by 22.3% in the third quarter. Ballentine Partners LLC now owns 3,664 shares of the company’s stock valued at $305,000 after purchasing an additional 668 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Polaris during the 3rd quarter worth approximately $279,000. International Assets Investment Management LLC raised its position in shares of Polaris by 1,309.5% during the 3rd quarter. International Assets Investment Management LLC now owns 14,151 shares of the company’s stock worth $1,178,000 after purchasing an additional 13,147 shares during the last quarter. Calton & Associates Inc. purchased a new stake in Polaris in the 3rd quarter valued at approximately $366,000. Finally, Blue Trust Inc. grew its holdings in Polaris by 2,431.3% during the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 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.