Polaris (NYSE:PII) Downgraded by KeyCorp to Sector Weight

Polaris (NYSE:PII) was downgraded by research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report released on Wednesday, Marketbeat.com reports.

Other analysts also recently issued reports about the stock. Truist Financial decreased their target price on shares of Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a report on Monday, December 30th. Royal Bank of Canada cut their target price on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 23rd. DA Davidson reduced their price target on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their price objective on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.00.

Polaris Stock Performance

Shares of NYSE PII opened at $55.54 on Wednesday. The stock has a fifty day moving average price of $63.68 and a two-hundred day moving average price of $74.51. Polaris has a 1 year low of $55.19 and a 1 year high of $100.91. The firm has a market cap of $3.10 billion, a P/E ratio of 15.51, a PEG ratio of 6.59 and a beta of 1.53. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. Polaris’s quarterly revenue was down 23.4% on a year-over-year basis. Research analysts forecast that Polaris will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC grew its position in Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after purchasing an additional 294 shares during the last quarter. Quarry LP lifted 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 during the period. Blue Trust Inc. lifted its stake in shares of Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in Polaris during the second quarter worth about $57,000. Finally, National Bank of Canada FI increased its stake in Polaris by 27.9% during the second quarter. National Bank of Canada FI now owns 918 shares of the company’s stock valued at $69,000 after acquiring an additional 200 shares during the period. Institutional investors own 88.06% of the company’s stock.

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.