Polaris (NYSE:PII) Price Target Cut to $85.00 by Analysts at Robert W. Baird

Polaris (NYSE:PII) had its target price decreased by Robert W. Baird from $95.00 to $85.00 in a research report released on Wednesday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

PII has been the subject of a number of other research reports. BMO Capital Markets lowered their price target on Polaris from $90.00 to $75.00 and set a market perform rating for the company in a research report on Wednesday. Royal Bank of Canada lowered their price target on Polaris from $103.00 to $97.00 and set a sector perform rating for the company in a research report on Wednesday, April 24th. Bank of America lowered their price target on Polaris from $86.00 to $85.00 and set a neutral rating for the company in a research report on Wednesday. Truist Financial decreased their price objective on Polaris from $92.00 to $82.00 and set a hold rating for the company in a report on Monday, July 8th. Finally, Longbow Research reissued a neutral rating on shares of Polaris in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Polaris currently has an average rating of Hold and a consensus price target of $89.18.

Polaris Stock Up 4.7 %

Polaris stock opened at $82.71 on Wednesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.42 and a quick ratio of 0.42. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 7.33 and a beta of 1.53. Polaris has a 1-year low of $71.90 and a 1-year high of $138.49. The business has a fifty day moving average price of $79.33 and a 200-day moving average price of $86.79.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a return on equity of 26.38% and a net margin of 3.98%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm posted $2.42 EPS. The business’s revenue was down 11.5% compared to the same quarter last year. Equities research analysts forecast that Polaris will post 3.8 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.19%. Polaris’s dividend payout ratio is presently 38.71%.

Hedge Funds Weigh In On Polaris

Several institutional investors and hedge funds have recently modified their holdings of PII. Confluence Investment Management LLC purchased a new position in shares of Polaris in the 1st quarter valued at about $108,890,000. Verity & Verity LLC purchased a new position in shares of Polaris in the 1st quarter valued at about $37,000. LSV Asset Management increased its stake in shares of Polaris by 190.3% in the 4th quarter. LSV Asset Management now owns 261,872 shares of the company’s stock valued at $24,818,000 after purchasing an additional 171,672 shares in the last quarter. Capital World Investors increased its stake in shares of Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after purchasing an additional 160,918 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Polaris in the 4th quarter valued at about $12,168,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.