Bank of America Cuts Polaris (NYSE:PII) Price Target to $45.00

Polaris (NYSE:PII) had its price target lowered by Bank of America from $55.00 to $45.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the company. Robert W. Baird reduced their target price on Polaris from $64.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada reduced their price objective on Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 29th. Truist Financial lowered their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets reduced their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. Finally, Roth Mkm lowered their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.50.

Polaris Trading Down 0.1 %

PII opened at $42.56 on Monday. Polaris has a 12-month low of $39.79 and a 12-month high of $100.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The stock has a market capitalization of $2.39 billion, a PE ratio of 21.71, a P/E/G ratio of 13.95 and a beta of 1.54. The firm’s fifty day moving average price is $47.77 and its 200 day moving average price is $63.22.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, research analysts expect that Polaris will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 6.30%. This is a positive change from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. Polaris’s dividend payout ratio is 136.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PII. Raymond James Financial Inc. bought a new position in shares of Polaris in the fourth quarter valued at approximately $21,776,000. State of Alaska Department of Revenue lifted its position in Polaris by 371.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after purchasing an additional 22,835 shares during the period. Bank of New York Mellon Corp increased its position in shares of Polaris by 45.3% during the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock valued at $44,740,000 after purchasing an additional 241,926 shares during the period. Angeles Wealth Management LLC bought a new stake in shares of Polaris in the 4th quarter worth $1,318,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Polaris in the fourth quarter valued at $839,000. Institutional investors and hedge funds 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.