Polaris (NYSE:PII) Sees Strong Trading Volume - Should You Buy?

Polaris Inc. (NYSE:PII - Get Free Report) shares saw strong trading volume on Tuesday . 504,563 shares were traded during trading, a decline of 29% from the previous session's volume of 714,784 shares.The stock last traded at $75.10 and had previously closed at $80.19.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PII shares. Royal Bank of Canada dropped their price objective on Polaris from $97.00 to $82.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 24th. Longbow Research restated a "neutral" rating on shares of Polaris in a research note on Wednesday, July 24th. Citigroup reduced their price objective on shares of Polaris from $86.00 to $83.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. KeyCorp decreased their price objective on shares of Polaris from $105.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, July 24th. Finally, DA Davidson upgraded shares of Polaris from a "neutral" rating to a "buy" rating and set a $87.00 target price on the stock in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $89.18.

Polaris Stock Performance

The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 7.59 and a beta of 1.51. The stock has a 50 day simple moving average of $82.25 and a 200 day simple moving average of $82.12. The company has a quick ratio of 0.40, a current ratio of 1.42 and a debt-to-equity ratio of 1.56.

Polaris (NYSE:PII - Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.89). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.18 billion. Polaris had a net margin of 3.98% and a return on equity of 26.38%. The company's revenue for the quarter was down 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.42 EPS. As a group, analysts anticipate that Polaris Inc. will post 3.66 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.66 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.64 annualized dividend and a yield of 3.66%. Polaris's dividend payout ratio is presently 46.23%.

Institutional Investors Weigh In On Polaris

A number of hedge funds have recently made changes to their positions in PII. JLB & Associates Inc. raised its stake in shares of Polaris by 0.5% during the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company's stock valued at $1,917,000 after purchasing an additional 120 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Polaris by 14.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company's stock worth $133,000 after buying an additional 169 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in shares of Polaris by 2.4% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 7,477 shares of the company's stock worth $586,000 after acquiring an additional 172 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Polaris by 1.2% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 16,120 shares of the company's stock valued at $1,262,000 after acquiring an additional 187 shares in the last quarter. Finally, Isthmus Partners LLC boosted its holdings in shares of Polaris by 5.0% in the second quarter. Isthmus Partners LLC now owns 4,011 shares of the company's stock valued at $314,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

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.