Truist Financial Has Lowered Expectations for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price objective reduced by analysts at Truist Financial from $76.00 to $60.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective indicates a potential upside of 8.03% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird lowered their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. Royal Bank of Canada lowered their price target on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 23rd. DA Davidson lowered their target price on Polaris from $87.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a research report on Monday, December 30th. Finally, KeyCorp decreased their price target on shares of Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Polaris presently has an average rating of “Hold” and an average target price of $84.00.

Polaris Price Performance

Shares of PII opened at $55.54 on Tuesday. Polaris has a fifty-two week low of $55.19 and a fifty-two week high of $100.91. The firm has a 50-day simple moving average of $63.96 and a 200-day simple moving average of $74.64. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 6.59 and a beta of 1.53.

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

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after acquiring an additional 294 shares during the last quarter. Blue Trust Inc. grew its position in shares of Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the last quarter. Quarry LP grew its position in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after purchasing an additional 253 shares during the last quarter. GAMMA Investing LLC increased its position in Polaris by 232.6% in the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new position in Polaris during the 2nd quarter worth $57,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.