Ingalls & Snyder LLC Invests $222,000 in Polaris Inc. $PII

Ingalls & Snyder LLC purchased a new stake in Polaris Inc. (NYSE:PII) in the second quarter, HoldingsChannel reports. The fund purchased 5,450 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in Polaris by 7,462.5% during the first quarter. Allworth Financial LP now owns 1,210 shares of the company’s stock worth $50,000 after buying an additional 1,194 shares in the last quarter. Fifth Third Bancorp raised its holdings in Polaris by 39.9% in the 2nd quarter. Fifth Third Bancorp now owns 1,393 shares of the company’s stock valued at $57,000 after acquiring an additional 397 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Polaris by 79.0% in the 2nd quarter. UMB Bank n.a. now owns 1,441 shares of the company’s stock worth $59,000 after acquiring an additional 636 shares during the period. Opal Wealth Advisors LLC grew its holdings in shares of Polaris by 91.4% during the 2nd quarter. Opal Wealth Advisors LLC now owns 1,638 shares of the company’s stock worth $67,000 after purchasing an additional 782 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Polaris during the first quarter valued at approximately $87,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PII. Robert W. Baird raised their target price on Polaris from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Royal Bank Of Canada raised their price objective on shares of Polaris from $34.00 to $56.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of Polaris in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Polaris from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $52.00 price objective (up from $33.00) on shares of Polaris in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.00.

Polaris Price Performance

Shares of Polaris stock opened at $71.29 on Tuesday. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -37.92, a P/E/G ratio of 64.39 and a beta of 1.08. The firm’s 50-day moving average price is $60.36 and its two-hundred day moving average price is $48.82. The company has a current ratio of 1.04, a quick ratio of 0.37 and a debt-to-equity ratio of 1.17. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $74.75.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, July 29th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.05 by $0.35. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%.Polaris’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. On average, equities analysts predict that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, September 2nd. Polaris’s dividend payout ratio is presently -142.55%.

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.