Polaris (NYSE:PII) Price Target Lowered to $97.00 at Royal Bank of Canada

Polaris (NYSE:PII) had its target price lowered by Royal Bank of Canada from $103.00 to $97.00 in a report released on Wednesday, Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also commented on the stock. Longbow Research upgraded shares of Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a research note on Monday, April 8th. KeyCorp dropped their price target on shares of Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, January 12th. Truist Financial dropped their price target on shares of Polaris from $96.00 to $92.00 and set a hold rating on the stock in a research note on Wednesday. Bank of America began coverage on shares of Polaris in a research note on Wednesday, April 3rd. They issued a neutral rating and a $110.00 price target on the stock. Finally, DA Davidson restated a neutral rating and issued a $80.00 price target on shares of Polaris in a research note on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $100.27.

Polaris Price Performance

PII opened at $83.81 on Wednesday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 12.29, a price-to-earnings-growth ratio of 2.45 and a beta of 1.60. Polaris has a fifty-two week low of $82.00 and a fifty-two week high of $138.49. The company’s 50-day moving average price is $92.40 and its 200 day moving average price is $91.41. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. Polaris’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts expect that Polaris will post 8 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio (DPR) is presently 38.71%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Confluence Investment Management LLC bought a new stake in Polaris during the first quarter worth approximately $108,890,000. Verity & Verity LLC bought a new stake in Polaris during the first quarter worth approximately $37,000. Qube Research & Technologies Ltd boosted its holdings in Polaris by 276.5% during the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after buying an additional 266,887 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Polaris by 151.9% during the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after buying an additional 255,777 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Polaris by 8.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after buying an additional 202,794 shares in the last quarter. 88.06% of the stock is currently 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.