Polaris (NYSE:PII) Cut to Sell at StockNews.com

StockNews.com lowered shares of Polaris (NYSE:PII) from a hold rating to a sell rating in a report published on Wednesday.

Several other equities analysts also recently commented on the company. 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 research report on Monday, December 30th. Royal Bank of Canada lowered their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial lowered their price objective on Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday. Finally, DA Davidson decreased their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average target price of $84.00.

Polaris Stock Performance

NYSE:PII opened at $54.09 on Wednesday. The stock has a 50-day simple moving average of $63.68 and a two-hundred day simple moving average of $74.51. Polaris has a 52-week low of $52.77 and a 52-week high of $100.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The firm has a market capitalization of $3.02 billion, a PE ratio of 15.11, a P/E/G ratio of 6.59 and a beta of 1.53.

Polaris (NYSE:PII) last released its quarterly earnings results 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 net margin of 2.64% and a return on equity of 17.92%. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the firm posted $2.71 EPS. The business’s revenue for the quarter was down 23.4% on a year-over-year basis. Analysts forecast that Polaris will post 3.22 EPS for the current year.

Polaris Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.88%. Polaris’s dividend payout ratio is 73.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its stake in Polaris by 3.2% in the third quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company’s stock worth $188,371,000 after purchasing an additional 69,844 shares in the last quarter. Confluence Investment Management LLC grew its stake in Polaris by 0.7% in the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company’s stock worth $86,516,000 after purchasing an additional 6,724 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Polaris by 10.8% in the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after purchasing an additional 96,194 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Polaris by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company’s stock worth $46,232,000 after purchasing an additional 171,366 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Polaris by 311.6% in the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock worth $30,307,000 after purchasing an additional 292,992 shares in the last quarter. 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.