Polaris (NYSE:PII) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Polaris (NYSE:PII) from a sell rating to a hold rating in a report issued on Tuesday.

Several other equities research analysts have also issued reports on PII. Bank of America lowered their price objective on Polaris from $86.00 to $85.00 and set a neutral rating for the company in a research note on Wednesday, July 24th. DA Davidson upgraded Polaris from a neutral rating to a buy rating and set a $87.00 price objective for the company in a report on Thursday, July 25th. Robert W. Baird dropped their price objective on Polaris from $95.00 to $85.00 and set an outperform rating for the company in a report on Wednesday, July 24th. Citigroup dropped their price objective on Polaris from $86.00 to $83.00 and set a neutral rating for the company in a report on Wednesday, July 24th. Finally, Roth Mkm dropped their price objective on Polaris from $92.00 to $79.00 and set a neutral rating for the company in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $89.18.

Polaris Price Performance

Shares of Polaris stock opened at $84.62 on Tuesday. The firm has a market cap of $4.78 billion, a PE ratio of 12.41, a PEG ratio of 6.92 and a beta of 1.51. Polaris has a 12 month low of $71.90 and a 12 month high of $108.02. The stock has a 50 day moving average of $81.32 and a 200 day moving average of $84.37. The company has a current ratio of 1.42, a quick ratio of 0.40 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 earnings per share (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 the consensus estimate of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. Polaris’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 earnings per share. On average, research analysts expect that Polaris will post 3.79 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. Polaris’s payout ratio is 38.71%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Capital World Investors raised its position in shares of Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock worth $640,447,000 after acquiring an additional 160,918 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Polaris by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock worth $590,924,000 after acquiring an additional 94,680 shares in the last quarter. Confluence Investment Management LLC bought a new position in shares of Polaris in the 1st quarter worth $108,890,000. Dimensional Fund Advisors LP raised its position in shares of Polaris by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after acquiring an additional 96,194 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Polaris by 311.6% in the 2nd quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after acquiring an additional 292,992 shares in the last quarter. 88.06% of the stock is owned by 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.