Polaris (NYSE:PII) Reaches New 12-Month Low Following Analyst Downgrade

Polaris Inc. (NYSE:PII - Get Free Report) reached a new 52-week low on Tuesday after UBS Group lowered their price target on the stock from $67.00 to $48.00. UBS Group currently has a neutral rating on the stock. Polaris traded as low as $43.20 and last traded at $43.56, with a volume of 6337073 shares. The stock had previously closed at $47.70.

PII has been the subject of a number of other research reports. BMO Capital Markets lowered their target price on Polaris from $60.00 to $50.00 and set a "market perform" rating for the company in a report on Wednesday, January 29th. DA Davidson lowered their price objective on Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Robert W. Baird reduced their target price on shares of Polaris from $84.00 to $72.00 and set an "outperform" rating on the stock in a report on Monday, December 30th. Roth Mkm decreased their price target on shares of Polaris from $76.00 to $57.00 and set a "neutral" rating for the company in a research report on Friday, January 24th. Finally, Truist Financial cut their price target on shares of Polaris from $60.00 to $55.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $66.17.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in Polaris in the fourth quarter valued at $21,776,000. Bank of New York Mellon Corp grew its stake in shares of Polaris by 45.3% in the 4th quarter. Bank of New York Mellon Corp now owns 776,473 shares of the company's stock valued at $44,740,000 after buying an additional 241,926 shares during the period. Charles Schwab Investment Management Inc. increased its position in Polaris by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 555,410 shares of the company's stock valued at $46,232,000 after buying an additional 171,366 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Polaris during the 3rd quarter worth approximately $12,670,000. Finally, Weiss Asset Management LP bought a new position in Polaris in the third quarter worth approximately $10,844,000. 88.06% of the stock is owned by institutional investors and hedge funds.

Polaris Stock Down 2.2 %

The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 14.51 and a beta of 1.50. The stock has a 50 day simple moving average of $56.63 and a 200 day simple moving average of $70.55. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating 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, analysts expect that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 6.04%. This is an increase from Polaris's previous quarterly dividend of $0.66. Polaris's payout ratio is 134.69%.

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.