Polaris (NYSE:PII) Given New $84.00 Price Target at DA Davidson

Polaris (NYSE:PII - Get Free Report) had its price objective decreased by analysts at DA Davidson from $87.00 to $84.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. DA Davidson's price target suggests a potential upside of 18.68% from the company's previous close. DA Davidson also issued estimates for Polaris' FY2024 earnings at $3.50 EPS.

PII has been the topic of a number of other reports. StockNews.com lowered shares of Polaris from a "hold" rating to a "sell" rating in a research report on Wednesday. Royal Bank of Canada dropped their price objective on Polaris from $82.00 to $73.00 and set a "sector perform" rating for the company in a report on Wednesday. Robert W. Baird reduced their target price on shares of Polaris from $85.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday. BMO Capital Markets dropped their price target on shares of Polaris from $90.00 to $75.00 and set a "market perform" rating for the company in a research note on Wednesday, July 24th. Finally, KeyCorp reduced their price objective on shares of Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Polaris currently has an average rating of "Hold" and an average target price of $87.09.

Polaris Price Performance

NYSE PII traded up $1.10 during trading hours on Thursday, reaching $70.78. 829,341 shares of the company's stock were exchanged, compared to its average volume of 731,818. The firm has a fifty day moving average of $82.04 and a 200-day moving average of $82.04. Polaris has a one year low of $68.59 and a one year high of $100.91. The stock has a market cap of $3.95 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 7.48 and a beta of 1.51. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.88 by ($0.15). The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The business's quarterly revenue was down 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 earnings per share. On average, equities research analysts predict that Polaris will post 3.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in shares of Polaris by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,144 shares of the company's stock worth $511,000 after purchasing an additional 410 shares during the period. Ballentine Partners LLC increased its stake in Polaris by 22.3% during the 3rd quarter. Ballentine Partners LLC now owns 3,664 shares of the company's stock worth $305,000 after purchasing an additional 668 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Polaris during the 3rd quarter worth approximately $279,000. International Assets Investment Management LLC lifted its stake in Polaris by 1,309.5% in the third quarter. International Assets Investment Management LLC now owns 14,151 shares of the company's stock valued at $1,178,000 after buying an additional 13,147 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in shares of Polaris during the third quarter worth $366,000. 88.06% of the stock is owned by institutional investors and hedge funds.

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.