Polaris (NYSE:PII) Hits 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 Thursday . The company traded as low as $37.14 and last traded at $37.25, with a volume of 680447 shares changing hands. The stock had previously closed at $42.61.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird lowered shares of Polaris from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $56.00 to $40.00 in a research report on Friday. KeyCorp cut Polaris from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, January 8th. UBS Group lowered their target price on Polaris from $67.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Bank of America dropped their price target on Polaris from $55.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, DA Davidson reduced their price objective on Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $58.50.

Polaris Stock Performance

The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average of $43.98 and a 200 day moving average of $59.35. The stock has a market capitalization of $1.96 billion, a P/E ratio of 17.78, a PEG ratio of 13.95 and a beta of 1.32.

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

Polaris Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 7.69%. This is an increase from Polaris's previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. Polaris's payout ratio is presently 136.73%.

Hedge Funds Weigh In On Polaris

Hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Polaris by 22.0% during the third quarter. FMR LLC now owns 133,665 shares of the company's stock worth $11,126,000 after acquiring an additional 24,103 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Polaris by 20.2% in the 3rd quarter. HighTower Advisors LLC now owns 4,350 shares of the company's stock worth $361,000 after purchasing an additional 731 shares during the last quarter. Quarry LP increased its position in shares of Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company's stock worth $32,000 after purchasing an additional 253 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of Polaris by 545.1% during the 3rd quarter. Quantinno Capital Management LP now owns 26,803 shares of the company's stock worth $2,231,000 after purchasing an additional 22,648 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Polaris by 11.8% during the 3rd quarter. Stifel Financial Corp now owns 103,061 shares of the company's stock valued at $8,579,000 after purchasing an additional 10,843 shares during 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.