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

StockNews.com upgraded shares of Polaris (NYSE:PII) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Several other equities research analysts also recently issued reports on PII. Roth Mkm lowered their price objective on shares of Polaris from $92.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. KeyCorp dropped their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. Longbow Research restated a “neutral” rating on shares of Polaris in a research note on Wednesday, July 24th. Finally, Robert W. Baird decreased their price target on shares of Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Polaris presently has an average rating of “Hold” and an average target price of $87.09.

Polaris Stock Performance

Shares of Polaris stock opened at $66.84 on Tuesday. Polaris has a 12 month low of $66.06 and a 12 month high of $100.91. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $3.73 billion, a PE ratio of 18.67, a PEG ratio of 7.05 and a beta of 1.52. The stock’s fifty day simple moving average is $77.45 and its 200 day simple moving average is $79.85.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the firm earned $2.71 EPS. The company’s revenue for the quarter was down 23.4% on a year-over-year basis. On average, research analysts predict that Polaris will post 3.22 EPS for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently modified their holdings of the company. JLB & Associates Inc. raised its stake in Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after buying an additional 120 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock valued at $133,000 after purchasing an additional 169 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in Polaris by 2.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company’s stock worth $586,000 after purchasing an additional 172 shares during the period. National Bank of Canada FI increased its holdings in shares of Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock valued at $92,000 after purchasing an additional 183 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Polaris by 1.2% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company’s stock valued at $1,262,000 after purchasing an additional 187 shares during the period. 88.06% of the stock is owned by institutional investors.

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.