Polaris Inc. (NYSE:PII) Given Average Rating of “Hold” by Brokerages

Polaris Inc. (NYSE:PII) has received an average recommendation of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $65.00.

PII has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Polaris in a research note on Tuesday, July 7th. Morgan Stanley decreased their price objective on Polaris from $74.00 to $69.00 and set an “equal weight” rating for the company in a report on Tuesday, May 19th. Wells Fargo & Company lifted their target price on Polaris from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Robert W. Baird upped their target price on Polaris from $67.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Roth Capital reissued a “neutral” rating on shares of Polaris in a research report on Wednesday, April 29th.

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC raised its stake in Polaris by 471.0% in the second quarter. Elevation Wealth Partners LLC now owns 571 shares of the company’s stock valued at $39,000 after buying an additional 471 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of Polaris during the 2nd quarter worth approximately $345,000. Versant Capital Management Inc boosted its stake in shares of Polaris by 128.1% during the 2nd quarter. Versant Capital Management Inc now owns 949 shares of the company’s stock worth $65,000 after acquiring an additional 533 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Polaris by 12.5% during the 1st quarter. Pacer Advisors Inc. now owns 431,724 shares of the company’s stock worth $23,529,000 after acquiring an additional 48,069 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Polaris by 42.6% during the 1st quarter. Empowered Funds LLC now owns 10,857 shares of the company’s stock worth $592,000 after acquiring an additional 3,242 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

Polaris Price Performance

NYSE PII opened at $73.00 on Monday. The firm’s 50 day moving average is $68.66 and its 200-day moving average is $64.23. The company has a quick ratio of 0.48, a current ratio of 1.21 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $4.15 billion, a PE ratio of -9.31 and a beta of 1.25. Polaris has a 12-month low of $47.14 and a 12-month high of $75.25.

Polaris (NYSE:PII) last announced its earnings results on Monday, April 27th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.56. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Polaris had a negative net margin of 6.13% and a positive return on equity of 5.91%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.90) earnings per share. Equities research analysts anticipate that Polaris will post 1.76 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, June 1st. Polaris’s dividend payout ratio (DPR) is -34.69%.

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.