Polaris (NYSE:PII) Price Target Raised to $81.00

Polaris (NYSE:PII) had its price objective boosted by Morgan Stanley from $72.00 to $81.00 in a report published on Friday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on PII. Seaport Res Ptn raised shares of Polaris to a “strong-buy” rating in a research note on Thursday, January 8th. BMO Capital Markets restated a “market perform” rating and set a $70.00 price target on shares of Polaris in a report on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on shares of Polaris from $56.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. Robert W. Baird increased their price objective on Polaris from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Zacks Research cut Polaris from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $59.58.

Polaris Stock Performance

NYSE PII opened at $69.92 on Friday. The stock’s fifty day moving average is $66.87 and its two-hundred day moving average is $60.85. The firm has a market capitalization of $3.93 billion, a P/E ratio of -26.38, a price-to-earnings-growth ratio of 2.29 and a beta of 1.14. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.36 and a current ratio of 1.02. Polaris has a fifty-two week low of $30.92 and a fifty-two week high of $75.25.

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

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.67 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.8%. Polaris’s payout ratio is presently -101.13%.

Insider Activity

In related news, SVP James P. Williams sold 4,554 shares of the stock in a transaction dated Friday, December 5th. The stock was 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 of the company’s stock, valued at approximately $2,963,081.34. This represents a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.12% of the company’s stock.

Hedge Funds Weigh In On Polaris

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its stake in shares of Polaris by 677.2% in the first quarter. Goldman Sachs Group Inc. now owns 544,295 shares of the company’s stock valued at $22,283,000 after purchasing an additional 474,259 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Polaris by 27.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,289 shares of the company’s stock worth $7,504,000 after buying an additional 39,584 shares during the period. Pallas Capital Advisors LLC acquired a new stake in Polaris during the 2nd quarter worth approximately $465,000. Wealth Enhancement Advisory Services LLC boosted its position in Polaris by 471.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 59,566 shares of the company’s stock valued at $2,421,000 after buying an additional 49,143 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Polaris in the 2nd quarter valued at approximately $640,000. 88.06% of the stock is 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.