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

Polaris Inc. (NYSE:PII - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $31.60 and last traded at $31.79, with a volume of 2291625 shares changing hands. The stock had previously closed at $35.00.

Analysts Set New Price Targets

PII has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research report on Monday. StockNews.com lowered Polaris from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. BMO Capital Markets cut their price target on Polaris from $60.00 to $50.00 and set a "market perform" rating for the company in a report on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, January 8th. Finally, UBS Group cut their target price on shares of Polaris from $67.00 to $48.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $50.64.

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Polaris Trading Down 1.4 %

The firm has a market cap of $1.89 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 13.95 and a beta of 1.32. The company's fifty day moving average price is $42.35 and its two-hundred day moving average price is $57.42. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a net margin of 1.54% and a return on equity of 13.78%. As a group, sell-side analysts predict that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.67 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 7.94%. This is a positive change from Polaris's previous quarterly dividend of $0.66. Polaris's payout ratio is currently 136.73%.

Institutional Trading of Polaris

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP grew its holdings in Polaris by 74.0% during the 4th quarter. Quantbot Technologies LP now owns 35,944 shares of the company's stock worth $2,071,000 after acquiring an additional 15,283 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Polaris by 14.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 116,302 shares of the company's stock valued at $6,701,000 after purchasing an additional 14,790 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Polaris during the fourth quarter valued at approximately $21,776,000. State of Alaska Department of Revenue increased its holdings in shares of Polaris by 371.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company's stock valued at $1,669,000 after purchasing an additional 22,835 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Polaris in the 4th quarter worth approximately $611,000. 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.