Polaris (NYSE:PII) Sets New 52-Week Low – Here’s What Happened

Polaris Inc. (NYSE:PII)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $42.98 and last traded at $42.98, with a volume of 125642 shares traded. The stock had previously closed at $44.39.

Wall Street Analyst Weigh In

PII has been the subject of a number of research reports. UBS Group reduced their price objective on Polaris from $67.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada decreased their price target on shares of Polaris from $65.00 to $54.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. BMO Capital Markets reduced their target price on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, January 29th. Finally, 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. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $66.17.

Polaris Stock Down 1.4 %

The firm has a fifty day moving average price of $55.71 and a 200 day moving average price of $69.97. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 13.80 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.39 and a current ratio of 1.15.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, sell-side analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.67 dividend. The ex-dividend date is Monday, March 3rd. This is a boost from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a yield of 6.12%. Polaris’s dividend payout ratio (DPR) is 134.69%.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Artisan Partners Limited Partnership lifted its holdings in shares of Polaris by 132.6% in the fourth quarter. Artisan Partners Limited Partnership now owns 900,891 shares of the company’s stock valued at $51,909,000 after purchasing an additional 513,542 shares in the last quarter. Norges Bank purchased a new stake in Polaris in the 4th quarter valued at approximately $24,659,000. Raymond James Financial Inc. acquired a new stake in Polaris during the 4th quarter valued at $21,776,000. American Century Companies Inc. increased its position in Polaris by 32.5% during the fourth quarter. American Century Companies Inc. now owns 995,872 shares of the company’s stock worth $57,382,000 after buying an additional 244,252 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Polaris by 45.3% during the fourth quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company’s stock worth $44,740,000 after buying an additional 241,926 shares in 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.