Bank of America Issues Pessimistic Forecast for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its target price decreased by Bank of America from $55.00 to $45.00 in a research report sent to investors on Monday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other analysts also recently issued reports on PII. Truist Financial cut their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets dropped their price target on Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird reduced their price objective on Polaris from $64.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday. Citigroup lowered their target price on Polaris from $57.00 to $53.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Finally, Roth Mkm reduced their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.50.

Polaris Price Performance

NYSE PII opened at $42.56 on Monday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15. Polaris has a 1 year low of $39.79 and a 1 year high of $100.91. The stock has a market capitalization of $2.39 billion, a P/E ratio of 21.71, a P/E/G ratio of 13.95 and a beta of 1.54. The business’s fifty day moving average is $47.77 and its two-hundred day moving average is $63.22.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping 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%. On average, research analysts forecast that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 6.30%. Polaris’s payout ratio is 136.73%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quarry LP lifted its stake in shares of Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Polaris during the 4th quarter worth about $29,000. Larson Financial Group LLC increased its holdings in shares of Polaris by 386.5% during the 4th 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 last quarter. Lindbrook Capital LLC lifted its holdings in Polaris by 295.4% in the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after purchasing an additional 387 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Polaris by 232.6% during the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after purchasing an additional 677 shares during the period. Institutional investors and hedge funds 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.