Polaris (NYSE:PII) Price Target Cut to $45.00 by Analysts at Bank of America

Polaris (NYSE:PII) had its target price dropped by equities research analysts at Bank of America from $55.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 6.08% from the company’s previous close.

A number of other equities analysts also recently issued reports on the stock. UBS Group cut their price objective on shares of Polaris from $67.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. Royal Bank of Canada lowered their target price on Polaris from $65.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Citigroup reduced their target price on Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial cut their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Polaris currently has an average rating of “Hold” and a consensus target price of $61.50.

Polaris Stock Performance

NYSE PII opened at $42.42 on Monday. The company has a fifty day simple moving average of $48.63 and a 200 day simple moving average of $63.94. Polaris has a 12-month low of $39.79 and a 12-month high of $100.91. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.38 billion, a P/E ratio of 21.64, a PEG ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. Sell-side analysts predict that Polaris will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Polaris

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares in the last quarter. Twin Tree Management LP bought a new position in Polaris in the fourth quarter valued at about $29,000. Larson Financial Group LLC lifted its holdings in Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock valued at $29,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC lifted its holdings in Polaris by 295.4% in the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock valued at $30,000 after acquiring an additional 387 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 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.