Polaris (NYSE:PII) Downgraded to Sell Rating by Citigroup

Citigroup lowered shares of Polaris (NYSE:PII) from a neutral rating to a sell rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. Citigroup currently has $33.00 price objective on the stock, down from their previous price objective of $49.00.

Other analysts have also issued reports about the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $54.00 target price on shares of Polaris in a research report on Monday. DA Davidson dropped their price objective on Polaris from $69.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Truist Financial reduced their target price on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. Roth Mkm dropped their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research note on Friday, January 24th. Finally, BMO Capital Markets reduced their price objective on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.83.

Polaris Stock Down 0.9 %

NYSE PII opened at $42.17 on Thursday. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris has a fifty-two week low of $39.29 and a fifty-two week high of $100.91. The business has a 50 day moving average price of $47.51 and a two-hundred day moving average price of $63.07. The stock has a market cap of $2.37 billion, a PE ratio of 21.52, a P/E/G ratio of 13.95 and a beta of 1.54.

Polaris (NYSE:PII) last announced its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating 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 predict that Polaris will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date was Monday, March 3rd. This is an increase from Polaris’s previous quarterly dividend of $0.66. Polaris’s dividend payout ratio is currently 136.73%.

Hedge Funds Weigh In On Polaris

A number of large investors have recently bought and sold shares of the business. RWWM Inc. grew its holdings in shares of Polaris by 377.4% during the fourth quarter. RWWM Inc. now owns 889,698 shares of the company’s stock valued at $51,264,000 after purchasing an additional 703,322 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Polaris by 132.6% during the 4th 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 during the period. Norges Bank bought a new position in Polaris during the 4th quarter worth $24,659,000. Capital World Investors increased its position in Polaris by 6.7% in the fourth quarter. Capital World Investors now owns 6,156,285 shares of the company’s stock worth $354,725,000 after buying an additional 388,050 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Polaris in the fourth quarter worth $21,776,000. Institutional investors own 88.06% of the company’s stock.

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.