Polaris (NYSE:PII) Sets New 52-Week Low - What's Next?

Shares of Polaris Inc. (NYSE:PII - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $58.05 and last traded at $58.18, with a volume of 1205601 shares traded. The stock had previously closed at $60.79.

Wall Street Analyst Weigh In

PII has been the subject of a number of recent analyst reports. StockNews.com cut shares of Polaris from a "hold" rating to a "sell" rating in a research report on Tuesday, December 10th. Royal Bank of Canada cut their target price on Polaris from $82.00 to $73.00 and set a "sector perform" rating on the stock in a research report on Wednesday, October 23rd. KeyCorp decreased their price target on Polaris from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price objective on Polaris from $85.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, October 23rd. Finally, DA Davidson cut their price objective on Polaris from $87.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $87.09.

Polaris Price Performance

The stock's 50 day moving average is $69.44 and its two-hundred day moving average is $76.74. The stock has a market capitalization of $3.17 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data 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 firm 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%. Polaris's revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 earnings per share. As a group, sell-side analysts forecast that Polaris Inc. will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.64 annualized dividend and a dividend yield of 4.64%. Polaris's dividend payout ratio is currently 73.74%.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. acquired a new stake in Polaris during the second quarter worth approximately $205,000. Cambridge Investment Research Advisors Inc. lifted its position in Polaris by 8.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the company's stock valued at $1,203,000 after acquiring an additional 1,186 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Polaris in the second quarter valued at $143,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Polaris by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,201 shares of the company's stock worth $955,000 after purchasing an additional 1,366 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Polaris during the second quarter worth about $587,000. Hedge funds and other institutional investors own 88.06% of the company's stock.

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.