Polaris (NYSE:PII) Price Target Lowered to $29.00 at Morgan Stanley

Polaris (NYSE:PII) had its price objective cut by Morgan Stanley from $31.00 to $29.00 in a research report report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts also recently weighed in on PII. Baird R W downgraded Polaris from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Bank of America cut their price target on Polaris from $55.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Truist Financial reduced their price target on Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, April 14th. StockNews.com upgraded shares of Polaris from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Roth Mkm decreased their price target on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.36.

Polaris Price Performance

Shares of NYSE PII opened at $34.81 on Thursday. The business’s 50 day moving average is $38.88 and its 200-day moving average is $52.61. The firm has a market cap of $1.95 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. Polaris has a 1-year low of $30.92 and a 1-year high of $90.62. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.01. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Polaris had a net margin of 1.54% and a return on equity of 13.78%. The company’s revenue was down 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Equities research analysts predict that Polaris will post 1.11 earnings per share for the current year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.67 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.68 annualized dividend and a dividend yield of 7.70%. Polaris’s dividend payout ratio is currently 372.22%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in Polaris by 39.8% in the first quarter. Victory Capital Management Inc. now owns 66,693 shares of the company’s stock valued at $2,730,000 after acquiring an additional 18,996 shares during the period. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Polaris during the first quarter worth about $340,000. Apollon Wealth Management LLC raised its stake in shares of Polaris by 37.8% during the 1st quarter. Apollon Wealth Management LLC now owns 5,257 shares of the company’s stock worth $215,000 after purchasing an additional 1,442 shares during the period. Signaturefd LLC raised its holdings in shares of Polaris by 314.0% in the 1st quarter. Signaturefd LLC now owns 4,210 shares of the company’s stock worth $172,000 after purchasing an additional 3,193 shares during the period. Finally, CWM LLC raised its stake in Polaris by 198.1% in the 1st quarter. CWM LLC now owns 13,154 shares of the company’s stock valued at $539,000 after acquiring an additional 8,741 shares during the period. 88.06% of the stock is 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.