Citigroup Issues Positive Forecast for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target boosted by Citigroup from $23.00 to $27.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sell rating on the stock.

A number of other research analysts have also weighed in on PII. Royal Bank Of Canada cut their price objective on Polaris from $54.00 to $34.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 30th. Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Tuesday, April 22nd. Baird R W downgraded shares of Polaris from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird raised their price target on shares of Polaris from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, May 22nd. Finally, Truist Financial dropped their price objective on shares of Polaris from $55.00 to $30.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Polaris currently has an average rating of “Hold” and a consensus price target of $45.27.

Polaris Trading Up 0.1%

NYSE PII opened at $40.08 on Monday. The company has a fifty day simple moving average of $37.32 and a two-hundred day simple moving average of $45.60. The stock has a market cap of $2.25 billion, a P/E ratio of 55.67 and a beta of 1.04. Polaris has a 12-month low of $30.92 and a 12-month high of $88.00. The company has a current ratio of 1.12, a quick ratio of 0.37 and a debt-to-equity ratio of 1.32.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.01. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Polaris had a net margin of 0.58% and a return on equity of 9.26%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. On average, analysts forecast that Polaris will post 1.11 earnings per share for the current year.

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.67 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.69%. Polaris’s payout ratio is 372.22%.

Hedge Funds Weigh In On Polaris

Several large investors have recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in Polaris during the fourth quarter worth $29,000. Larson Financial Group LLC raised its position in shares of Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Polaris by 295.4% during the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after acquiring an additional 387 shares in the last quarter. UMB Bank n.a. grew its position in shares of Polaris by 114.1% during the 1st quarter. UMB Bank n.a. now owns 805 shares of the company’s stock valued at $33,000 after acquiring an additional 429 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Polaris during the 1st quarter valued at about $35,000. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.