Polaris (NYSE:PII) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Polaris (NYSE:PII) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other research firms have also issued reports on PII. BMO Capital Markets restated a “market perform” rating and set a $70.00 price objective on shares of Polaris in a research report on Wednesday, October 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Polaris in a report on Wednesday, October 8th. Robert W. Baird upped their price target on shares of Polaris from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Roth Capital lifted their price objective on shares of Polaris from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Loop Capital assumed coverage on shares of Polaris in a research report on Thursday, November 13th. They issued a “hold” rating and a $59.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.25.

Polaris Trading Down 2.4%

NYSE PII opened at $71.86 on Thursday. Polaris has a one year low of $30.92 and a one year high of $75.25. The company has a 50-day simple moving average of $66.34 and a 200-day simple moving average of $59.72. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.36 and a current ratio of 1.02. The firm has a market capitalization of $4.04 billion, a PE ratio of -27.12, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

Polaris (NYSE:PII) last released its quarterly earnings data on Monday, October 27th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. Polaris’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Polaris will post 1.11 earnings per share for the current year.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, December 1st. Polaris’s dividend payout ratio is currently -101.13%.

Insider Activity

In related news, SVP James P. Williams sold 4,554 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $67.53, for a total transaction of $307,531.62. Following the transaction, the senior vice president owned 43,878 shares in the company, valued at $2,963,081.34. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Polaris

A number of institutional investors have recently added to or reduced their stakes in PII. State of Alaska Department of Revenue lifted its stake in Polaris by 56.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 68,872 shares of the company’s stock worth $2,799,000 after acquiring an additional 24,895 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of Polaris in the 2nd quarter valued at about $5,009,000. Goldstone Financial Group LLC acquired a new position in shares of Polaris in the 2nd quarter valued at about $376,000. Versor Investments LP purchased a new stake in shares of Polaris in the second quarter worth approximately $211,000. Finally, Segment Wealth Management LLC acquired a new stake in shares of Polaris during the second quarter worth approximately $6,375,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.