Truist Financial Cuts Polaris (NYSE:PII) Price Target to $60.00

Polaris (NYSE:PII) had its price target reduced by Truist Financial from $76.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

PII has been the subject of several other reports. StockNews.com upgraded Polaris from a “sell” rating to a “hold” rating in a report on Monday, December 30th. Robert W. Baird lowered their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research report on Monday, December 30th. DA Davidson cut their price objective on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. KeyCorp reduced their target price on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada dropped their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Polaris presently has an average rating of “Hold” and an average price target of $84.00.

Polaris Stock Performance

PII opened at $55.54 on Tuesday. Polaris has a twelve month low of $55.19 and a twelve month high of $100.91. The firm has a market capitalization of $3.10 billion, a PE ratio of 15.51, a PEG ratio of 6.59 and a beta of 1.53. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The firm’s 50-day moving average price is $63.68 and its 200 day moving average price is $74.51.

Polaris (NYSE:PII) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same period last year, the business earned $2.71 earnings per share. As a group, sell-side analysts expect that Polaris will post 3.22 EPS for the current fiscal year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is 73.74%.

Hedge Funds Weigh In On Polaris

Hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its position in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after purchasing an additional 294 shares during the period. Blue Trust Inc. boosted its position in shares of Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after buying an additional 389 shares during the period. Quarry LP grew its stake in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after buying an additional 677 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris during the 2nd quarter worth about $57,000. 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.