Polaris (NYSE:PII) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Polaris (NYSE:PII) from a hold rating to a sell rating in a report issued on Wednesday.

Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their price objective on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday. DA Davidson decreased their price objective on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Finally, Truist Financial lowered their price target on Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.00.

Polaris Stock Down 4.4 %

Shares of NYSE:PII opened at $55.54 on Wednesday. Polaris has a 12 month low of $55.19 and a 12 month high of $100.91. The firm has a market cap of $3.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average price is $63.96 and its two-hundred day moving average price is $74.64.

Polaris (NYSE:PII) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $0.73 EPS 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 company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $2.71 earnings per share. Polaris’s revenue for the quarter was down 23.4% compared to the same quarter last year. As a group, research analysts forecast that Polaris will post 3.22 EPS for the current fiscal year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.66 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.75%. Polaris’s dividend payout ratio is presently 73.74%.

Institutional Trading of Polaris

A number of institutional investors have recently modified their holdings of the stock. National Bank of Canada FI raised its position in Polaris by 19.9% during 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 in the last quarter. Nordea Investment Management AB grew its holdings in Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its stake 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 worth $1,262,000 after purchasing an additional 187 shares during the last quarter. Quarry LP increased its stake in shares of Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after buying an additional 253 shares during the period. Finally, Claro Advisors LLC raised its holdings in Polaris by 3.3% during the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock worth $656,000 after purchasing an additional 254 shares during the last quarter. 88.06% of the stock is currently 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.