Polaris (NYSE:PII) Hits New 52-Week Low – Here’s Why

Polaris Inc. (NYSE:PII)’s stock price reached a new 52-week low during trading on Thursday . The company traded as low as $58.05 and last traded at $58.18, with a volume of 1205601 shares trading hands. The stock had previously closed at $60.79.

Wall Street Analysts Forecast Growth

PII has been the topic of a number of research analyst reports. StockNews.com lowered shares of Polaris from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. KeyCorp lowered their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird reduced their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. DA Davidson dropped their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Royal Bank of Canada reduced their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.09.

Polaris Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The firm has a market cap of $3.24 billion, a P/E ratio of 16.25, a PEG ratio of 6.59 and a beta of 1.51. The stock’s 50 day moving average is $69.90 and its two-hundred day moving average is $76.88.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 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 the consensus estimate of $1.77 billion. During the same quarter last year, the business earned $2.71 EPS. Polaris’s quarterly revenue was down 23.4% compared to the same quarter last year. As a group, equities analysts predict that Polaris Inc. will post 3.22 EPS for the current year.

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is currently 73.74%.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Polaris in the 2nd quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Polaris by 8.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company’s stock valued at $1,203,000 after buying an additional 1,186 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Polaris in the second quarter valued at about $143,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Polaris by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,201 shares of the company’s stock valued at $955,000 after buying an additional 1,366 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Polaris during the 2nd quarter worth about $587,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.