Truist Financial Cuts Polaris (NYSE:PII) Price Target to $92.00

Polaris (NYSE:PII) had its target price lowered by Truist Financial from $96.00 to $92.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued reports about the company. DA Davidson reaffirmed a neutral rating and set a $80.00 target price on shares of Polaris in a research report on Tuesday, March 5th. KeyCorp lowered their target price on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a research report on Friday, January 12th. Bank of America assumed coverage on Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 target price on the stock. Robert W. Baird lowered their price target on Polaris from $110.00 to $100.00 and set an outperform rating for the company in a research report on Wednesday. Finally, Morgan Stanley raised Polaris from an equal weight rating to an overweight rating and increased their price target for the company from $103.00 to $113.00 in a research report on Wednesday, January 17th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $100.27.

Polaris Price Performance

Polaris stock opened at $83.81 on Wednesday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.45 and a beta of 1.60. Polaris has a 52-week low of $82.00 and a 52-week high of $138.49. The stock’s 50 day moving average price is $92.40 and its two-hundred day moving average price is $91.41. 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 (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Polaris’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities analysts predict that Polaris will post 8 earnings per share for the current year.

Polaris Announces Dividend

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

Institutional Investors Weigh In On Polaris

Several large investors have recently made changes to their positions in PII. Confluence Investment Management LLC purchased a new stake in shares of Polaris during the 1st quarter valued at $108,890,000. Verity & Verity LLC purchased a new stake in shares of Polaris during the 1st quarter valued at $37,000. Qube Research & Technologies Ltd increased its position in shares of Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after purchasing an additional 266,887 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after purchasing an additional 255,777 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after purchasing an additional 202,794 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.