StockNews.com Begins Coverage on Polaris (NYSE:PII)

StockNews.com assumed coverage on shares of Polaris (NYSE:PII – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the stock.

PII has been the subject of a number of other reports. Citigroup increased their price objective on Polaris from $105.00 to $115.00 and gave the stock a neutral rating in a report on Thursday, February 2nd. UBS Group lowered Polaris from a buy rating to a neutral rating and decreased their price objective for the stock from $165.00 to $112.00 in a report on Friday, January 27th. Jefferies Financial Group increased their price target on Polaris from $100.00 to $106.00 in a research note on Monday, December 5th. Northcoast Research lowered Polaris from a buy rating to a neutral rating in a research note on Friday, January 13th. Finally, MKM Partners assumed coverage on Polaris in a research note on Tuesday, November 29th. They set a neutral rating and a $117.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $113.56.

Polaris Stock Performance

Shares of PII stock opened at $106.03 on Thursday. Polaris has a 12-month low of $91.86 and a 12-month high of $123.87. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 14.14 and a beta of 1.61. The business has a 50 day simple moving average of $112.15 and a 200 day simple moving average of $107.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.19 and a quick ratio of 0.37.

Polaris (NYSE:PII – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.28 by $0.18. Polaris had a return on equity of 57.76% and a net margin of 5.10%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the company posted $2.16 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Polaris will post 10.24 EPS for the current year.

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, February 28th. This is an increase from Polaris’s previous quarterly dividend of $0.64. Polaris’s dividend payout ratio is 34.67%.

Insider Activity

In other news, SVP Dougherty Lucy Clark sold 10,626 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $115.00, for a total transaction of $1,221,990.00. Following the completion of the sale, the senior vice president now owns 12,282 shares in the company, valued at approximately $1,412,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.

Institutional Trading of Polaris

A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of Polaris by 47.8% in the second quarter. Quadrant Capital Group LLC now owns 306 shares of the company’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Polaris by 4.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,533 shares of the company’s stock valued at $256,000 after purchasing an additional 99 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Polaris by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 16,206 shares of the company’s stock valued at $1,637,000 after purchasing an additional 104 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Polaris by 3.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,533 shares of the company’s stock valued at $357,000 after purchasing an additional 110 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Polaris by 64.8% in the fourth quarter. Dark Forest Capital Management LP now owns 290 shares of the company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Polaris Company Profile

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Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.