Polaris (NYSE:PII) Downgraded to Sell Rating by Citigroup

Polaris (NYSE:PII) was downgraded by stock analysts at Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Thursday, MarketBeat reports. They presently have a $33.00 price objective on the stock, down from their previous price objective of $49.00. Citigroup’s price target indicates a potential downside of 21.33% from the stock’s current price.

PII has been the subject of several other reports. Robert W. Baird reduced their price objective on Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, March 17th. DA Davidson reduced their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 price objective on shares of Polaris in a report on Monday, March 17th. BMO Capital Markets reduced their price objective on Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial reduced their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Polaris currently has a consensus rating of “Hold” and an average target price of $59.83.

Polaris Stock Down 0.5 %

PII opened at $41.95 on Thursday. 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 business has a 50 day simple moving average of $47.26 and a 200-day simple moving average of $62.78. The stock has a market capitalization of $2.35 billion, a P/E ratio of 21.40, a P/E/G ratio of 13.95 and a beta of 1.54. Polaris has a 12 month low of $39.29 and a 12 month high of $100.91.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Polaris will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

Several institutional investors have recently added to or reduced their stakes in PII. RWWM Inc. increased its stake in Polaris by 377.4% in the fourth quarter. RWWM Inc. now owns 889,698 shares of the company’s stock valued at $51,264,000 after purchasing an additional 703,322 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Polaris by 132.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock valued at $51,909,000 after purchasing an additional 513,542 shares during the last quarter. Norges Bank acquired a new position in Polaris in the fourth quarter valued at $24,659,000. Capital World Investors increased its stake in Polaris by 6.7% in the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock valued at $354,725,000 after purchasing an additional 388,050 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Polaris in the fourth quarter valued at $21,776,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.