Citigroup Cuts Polaris (NYSE:PII) Price Target to $57.00

Polaris (NYSE:PII) had its price target trimmed by Citigroup from $73.00 to $57.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

PII has been the subject of several other reports. Royal Bank of Canada cut their price objective on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a report on Wednesday, October 23rd. Truist Financial lowered their price target on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, January 7th. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price (down from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Finally, Robert W. Baird cut their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Polaris has a consensus rating of “Hold” and a consensus price target of $73.45.

Polaris Stock Down 0.8 %

Polaris stock opened at $53.80 on Thursday. Polaris has a twelve month low of $52.62 and a twelve month high of $100.91. 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 firm has a market cap of $3.00 billion, a PE ratio of 15.03, a P/E/G ratio of 6.05 and a beta of 1.53. The firm’s 50 day moving average price is $60.62 and its two-hundred day moving average price is $72.85.

Institutional Investors Weigh In On Polaris

Several hedge funds and other institutional investors have recently made changes to their positions in PII. Envestnet Asset Management Inc. increased its position in Polaris by 0.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 91,612 shares of the company’s stock worth $7,174,000 after buying an additional 831 shares during the period. Dimensional Fund Advisors LP increased its position in Polaris by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock worth $76,994,000 after acquiring an additional 96,194 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Polaris by 67.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,657 shares of the company’s stock valued at $365,000 after purchasing an additional 1,881 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Polaris in the 2nd quarter valued at $1,211,000. Finally, Sei Investments Co. grew its position in Polaris by 31.0% in the 2nd quarter. Sei Investments Co. now owns 3,601 shares of the company’s stock worth $282,000 after purchasing an additional 853 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

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.