Polaris (NYSE:PII) Hits New 1-Year Low - Here's What Happened

Polaris Inc. (NYSE:PII - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $39.29 and last traded at $42.66, with a volume of 230994 shares changing hands. The stock had previously closed at $42.56.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PII. Robert W. Baird reduced their price target on shares of Polaris from $64.00 to $56.00 and set an "outperform" rating for the company in a report on Monday, March 17th. Royal Bank of Canada reiterated a "sector perform" rating and set a $54.00 target price on shares of Polaris in a report on Monday, March 17th. Morgan Stanley restated an "equal weight" rating and issued a $60.00 price target (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. KeyCorp lowered Polaris from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, January 8th. Finally, UBS Group reduced their price target on Polaris from $67.00 to $48.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $59.83.

Polaris Price Performance

The stock has a market capitalization of $2.41 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.15 and a quick ratio of 0.39. The company's 50-day simple moving average is $47.26 and its 200-day simple moving average is $62.50.

Remove Ads

Polaris (NYSE:PII - Get Free Report) last issued 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 net margin of 1.54% and a return on equity of 13.78%. As a group, sell-side analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared 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 is an increase from Polaris's previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.68 annualized dividend and a yield of 6.25%. Polaris's dividend payout ratio (DPR) is currently 136.73%.

Hedge Funds Weigh In On Polaris

Several institutional investors and hedge funds have recently modified their holdings of PII. Capital World Investors boosted its holdings in shares of Polaris by 6.7% during the 4th quarter. Capital World Investors now owns 6,156,285 shares of the company's stock worth $354,725,000 after buying an additional 388,050 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Polaris by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 5,642,463 shares of the company's stock worth $325,119,000 after acquiring an additional 39,858 shares during the period. Beutel Goodman & Co Ltd. grew its position in shares of Polaris by 2.6% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,775,331 shares of the company's stock valued at $159,914,000 after purchasing an additional 69,766 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Polaris by 0.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,284,077 shares of the company's stock worth $131,609,000 after purchasing an additional 21,087 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Polaris by 3.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,262,990 shares of the company's stock worth $188,371,000 after purchasing an additional 69,844 shares during the last quarter. 88.06% of the stock is currently 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.