Polaris (NYSE:PII) Price Target Cut to $100.00 by Analysts at Robert W. Baird

Polaris (NYSE:PII) had its price objective reduced by Robert W. Baird from $110.00 to $100.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. Bank of America started coverage on shares of Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 target price on the stock. Longbow Research raised shares of Polaris from a neutral rating to a buy rating and set a $120.00 target price on the stock in a research report on Monday, April 8th. DA Davidson reissued a neutral rating and set a $80.00 target price on shares of Polaris in a research report on Tuesday, March 5th. Truist Financial dropped their target price on shares of Polaris from $100.00 to $96.00 and set a hold rating on the stock in a research report on Wednesday, January 31st. Finally, BMO Capital Markets dropped their target price on shares of Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research report on Wednesday, January 31st. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Polaris currently has an average rating of Hold and an average target price of $100.27.

Polaris Price Performance

PII stock opened at $85.21 on Wednesday. The company has a market capitalization of $4.81 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.46 and a current ratio of 1.47. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The business has a 50-day simple moving average of $92.86 and a two-hundred day simple moving average of $91.61.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 EPS. Research analysts expect that Polaris will post 7.97 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.64 annualized dividend and a dividend yield of 3.10%. This is an increase from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently made changes to their positions in PII. Confluence Investment Management LLC purchased a new stake in shares of Polaris during the first quarter worth $108,890,000. Verity & Verity LLC bought a new position in shares of Polaris in the first quarter worth $37,000. Qube Research & Technologies Ltd increased its holdings in shares of Polaris by 276.5% in the third quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock worth $37,845,000 after purchasing an additional 266,887 shares during the period. AQR Capital Management LLC increased its holdings in shares of Polaris by 151.9% in the third quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock worth $44,168,000 after purchasing an additional 255,777 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Polaris by 8.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock worth $257,993,000 after purchasing an additional 202,794 shares during the period. Hedge funds and other 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.