Polaris (NYSE:PII) Hits New 52-Week Low - Here's Why

Shares of Polaris Inc. (NYSE:PII - Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $42.98 and last traded at $42.98, with a volume of 125642 shares changing hands. The stock had previously closed at $44.39.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PII. StockNews.com lowered Polaris from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Royal Bank of Canada dropped their price target on Polaris from $65.00 to $54.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased their price objective on shares of Polaris from $60.00 to $55.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. KeyCorp downgraded shares of Polaris from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, January 8th. Finally, Roth Mkm dropped their price objective on shares of Polaris from $76.00 to $57.00 and set a "neutral" rating on the stock in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $66.17.

Polaris Stock Performance

The stock has a 50 day simple moving average of $54.52 and a two-hundred day simple moving average of $69.25. The company has a market cap of $2.51 billion, a PE ratio of 23.00, a PEG ratio of 13.80 and a beta of 1.50. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39.

Polaris (NYSE:PII - Get Free Report) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. Equities analysts predict that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio (DPR) is currently 134.69%.

Institutional Investors Weigh In On Polaris

A number of large investors have recently added to or reduced their stakes in the business. Divisar Capital Management LLC purchased a new stake in Polaris in the 4th quarter worth approximately $6,914,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Polaris during the 4th quarter valued at about $1,627,000. Northern Trust Corp lifted its position in shares of Polaris by 20.9% during the fourth quarter. Northern Trust Corp now owns 444,962 shares of the company's stock worth $25,639,000 after purchasing an additional 77,039 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Polaris by 0.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,284,077 shares of the company's stock valued at $131,609,000 after buying an additional 21,087 shares during the last quarter. Finally, Aquatic Capital Management LLC grew its stake in Polaris by 146.2% during the 4th quarter. Aquatic Capital Management LLC now owns 96,495 shares of the company's stock valued at $5,560,000 after purchasing an additional 57,295 shares in the last quarter. 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.