Polaris Inc. (NYSE:PII) Sees Large Decrease in Short Interest

Polaris Inc. (NYSE:PII) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,810,000 shares, a drop of 14.3% from the August 31st total of 3,280,000 shares. Based on an average daily trading volume, of 783,600 shares, the days-to-cover ratio is presently 3.6 days. Currently, 5.4% of the shares of the company are short sold.

Polaris Price Performance

Shares of Polaris stock opened at $84.94 on Friday. The firm has a market cap of $4.74 billion, a PE ratio of 12.45, a PEG ratio of 7.54 and a beta of 1.51. The stock has a 50 day moving average of $81.95 and a 200 day moving average of $83.98. 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 has a 12 month low of $71.90 and a 12 month high of $106.17.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.38%. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. On average, research analysts expect that Polaris will post 3.79 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were paid a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.11%. Polaris’s payout ratio is currently 38.71%.

Institutional Trading of Polaris

A number of large investors have recently made changes to their positions in the business. New England Capital Financial Advisors LLC purchased a new position in Polaris during the first quarter worth $25,000. Creekmur Asset Management LLC bought a new stake in shares of Polaris in the 4th quarter worth about $27,000. Bessemer Group Inc. lifted its holdings in shares of Polaris by 174.1% in the 1st quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after acquiring an additional 235 shares during the last quarter. Security National Bank bought a new position in Polaris during the 4th quarter valued at about $47,000. Finally, Signaturefd LLC raised its position in Polaris by 1,931.3% in the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock worth $51,000 after purchasing an additional 618 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PII has been the topic of several analyst reports. Truist Financial lowered their price target on shares of Polaris from $92.00 to $82.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Robert W. Baird dropped their target price on shares of Polaris from $95.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Roth Mkm decreased their price target on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, DA Davidson upgraded Polaris from a “neutral” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.18.

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.