Polaris (NYSE:PII) Price Target Cut to $30.00 by Analysts at Truist Financial

Polaris (NYSE:PII) had its target price reduced by Truist Financial from $55.00 to $30.00 in a report issued on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Other analysts have also issued research reports about the company. Baird R W lowered Polaris from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. StockNews.com lowered Polaris from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. DA Davidson dropped their target price on Polaris from $69.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Bank of America reduced their price target on shares of Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.64.

Polaris Price Performance

PII stock opened at $32.40 on Monday. Polaris has a 52-week low of $30.92 and a 52-week high of $90.62. The business has a fifty day moving average of $41.64 and a two-hundred day moving average of $56.73. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27.

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

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 8.27%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio (DPR) is 136.73%.

Hedge Funds Weigh In On Polaris

Several hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its stake in Polaris by 386.5% during the 4th quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 402 shares in the last quarter. Twin Tree Management LP acquired a new position in Polaris during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC lifted its stake 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 buying an additional 387 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Polaris by 114.1% in the first quarter. UMB Bank n.a. now owns 805 shares of the company’s stock valued at $33,000 after acquiring an additional 429 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Polaris during the first quarter worth approximately $35,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.