Royal Bank of Canada Lowers Polaris (NYSE:PII) Price Target to $82.00

Polaris (NYSE:PII) had its price objective reduced by Royal Bank of Canada from $97.00 to $82.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also recently issued reports on PII. Roth Mkm cut their target price on shares of Polaris from $92.00 to $79.00 and set a neutral rating for the company in a research report on Wednesday. Truist Financial cut their target price on shares of Polaris from $92.00 to $82.00 and set a hold rating for the company in a research report on Monday, July 8th. Longbow Research restated a neutral rating on shares of Polaris in a research report on Wednesday. StockNews.com cut shares of Polaris from a buy rating to a hold rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets cut their price objective on shares of Polaris from $90.00 to $75.00 and set a market perform rating for the company in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $89.18.

Polaris Stock Up 4.7 %

Shares of NYSE:PII opened at $82.71 on Wednesday. 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 has a fifty-two week low of $71.90 and a fifty-two week high of $138.49. The firm’s 50-day simple moving average is $79.33 and its 200-day simple moving average is $86.79. The company has a market cap 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 (NYSE:PII) last announced 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). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same quarter last year, the business earned $2.42 EPS. As a group, equities research analysts predict that Polaris will post 3.8 earnings per share for the current year.

Polaris Announces Dividend

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

Institutional Investors Weigh In On Polaris

Institutional investors have recently bought and sold shares of the stock. New England Capital Financial Advisors LLC purchased a new stake in Polaris in the first quarter valued at approximately $25,000. Creekmur Asset Management LLC purchased a new stake in Polaris in the fourth quarter valued at approximately $27,000. Verity & Verity LLC purchased a new stake in Polaris in the first quarter valued at approximately $37,000. Bessemer Group Inc. grew its holdings in Polaris by 174.1% in the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock valued at $37,000 after purchasing an additional 235 shares during the period. Finally, First United Bank & Trust purchased a new stake in Polaris in the fourth quarter valued at approximately $40,000. 88.06% of the stock is currently 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.