Polaris (NYSE:PII) Reaches New 12-Month Low – Here’s What Happened

Polaris Inc. (NYSE:PII) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $42.98 and last traded at $42.98, with a volume of 125642 shares changing hands. The stock had previously closed at $44.39.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PII shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (down previously from $81.00) on shares of Polaris in a report on Tuesday, January 21st. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Roth Mkm reduced their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Truist Financial lowered their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Finally, Citigroup lowered their target price on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $66.17.

Polaris Stock Up 0.6 %

The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 13.80 and a beta of 1.50. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The firm has a fifty day moving average price of $54.90 and a 200 day moving average price of $69.61.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. Sell-side analysts anticipate that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 6.03%. The ex-dividend date is Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. Polaris’s payout ratio is 134.69%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Venturi Wealth Management LLC raised its position in Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Larson Financial Group LLC raised its stake in Polaris by 386.5% during the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after buying an additional 402 shares during the period. Twin Tree Management LP bought a new position in Polaris during the fourth quarter worth about $29,000. Lindbrook Capital LLC grew its stake in shares of Polaris by 295.4% in the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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.