Polaris (NYSE:PII) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Polaris (NYSE:PII) from a hold rating to a buy rating in a report released on Wednesday morning.

PII has been the subject of several other reports. KeyCorp reduced their price objective on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Citigroup reduced their price target on shares of Polaris from $100.00 to $96.00 and set a neutral rating for the company in a research report on Wednesday. Royal Bank of Canada dropped their price objective on shares of Polaris from $103.00 to $97.00 and set a sector perform rating on the stock in a report on Wednesday. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They set a neutral rating and a $110.00 target price for the company. Finally, Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 target price on the stock in a research note on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $100.27.

Polaris Stock Up 0.6 %

NYSE:PII opened at $83.81 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The company has a market cap of $4.74 billion, a PE ratio of 12.29, a P/E/G ratio of 2.44 and a beta of 1.60. The company’s 50 day moving average is $92.40 and its two-hundred day moving average is $91.41.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Analysts anticipate that Polaris will post 7.94 EPS for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Monday, June 3rd. Polaris’s payout ratio is 38.71%.

Institutional Trading of Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. Creekmur Asset Management LLC purchased a new stake in Polaris during the 4th quarter worth approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of Polaris during the fourth quarter worth approximately $31,000. Verity & Verity LLC acquired a new position in Polaris in the 1st quarter valued at $37,000. First United Bank & Trust purchased a new position in Polaris in the 4th quarter valued at $40,000. Finally, Larson Financial Group LLC lifted its holdings in Polaris by 536.5% in the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company’s stock valued at $42,000 after purchasing an additional 338 shares in the last quarter. 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.