Citigroup Cuts Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII) had its price target decreased by Citigroup from $100.00 to $96.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other research firms have also recently commented on PII. Truist Financial decreased their price target on shares of Polaris from $96.00 to $92.00 and set a hold rating for the company in a report on Wednesday. Bank of America assumed coverage on shares of Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective on the stock. BMO Capital Markets cut their price objective 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. DA Davidson reaffirmed a neutral rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. Finally, Robert W. Baird cut their price objective on shares of Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $100.27.

Polaris Stock Performance

Shares of PII opened at $83.81 on Wednesday. Polaris has a one year low of $82.00 and a one year high of $138.49. The company has a 50-day moving average of $92.40 and a two-hundred day moving average of $91.41. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.44 and a beta of 1.60. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.47 and a quick ratio of 0.46.

Polaris (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. On average, equities research analysts expect that Polaris will post 7.94 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Monday, June 3rd. Polaris’s dividend payout ratio is 38.71%.

Hedge Funds Weigh In On Polaris

Institutional investors have recently modified their holdings of the company. Semanteon Capital Management LP bought a new position in shares of Polaris in the fourth quarter valued at approximately $1,270,000. International Assets Investment Management LLC increased its position in Polaris by 10,524.7% during the fourth quarter. International Assets Investment Management LLC now owns 61,411 shares of the company’s stock worth $5,820,000 after acquiring an additional 60,833 shares during the period. Camarda Financial Advisors LLC bought a new position in Polaris during the third quarter worth $1,354,000. Quantbot Technologies LP bought a new position in Polaris during the third quarter worth $1,227,000. Finally, Envestnet Asset Management Inc. increased its position in Polaris by 35.6% during the third quarter. Envestnet Asset Management Inc. now owns 114,630 shares of the company’s stock worth $11,938,000 after acquiring an additional 30,114 shares during the period. Institutional investors own 88.06% of the company’s stock.

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.