Polaris (NYSE:PII) Hits New 12-Month Low - Here's Why

Polaris Inc. (NYSE:PII - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $42.60 and last traded at $42.82, with a volume of 2017356 shares changing hands. The stock had previously closed at $44.25.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PII. Roth Mkm dropped their price objective on Polaris from $76.00 to $57.00 and set a "neutral" rating for the company in a research note on Friday, January 24th. Citigroup cut their price target on shares of Polaris from $57.00 to $53.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut shares of Polaris from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. DA Davidson dropped their price objective on shares of Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $60.00 target price (down from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. One 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $66.17.

Polaris Stock Up 4.4 %

The firm's fifty day simple moving average is $50.71 and its 200 day simple moving average is $66.21. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 13.95 and a beta of 1.50.

Polaris (NYSE:PII - Get Free Report) last issued its earnings results 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%. Sell-side analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.22%. This is an increase from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio is presently 136.73%.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently added to or reduced their stakes in PII. State of Alaska Department of Revenue lifted its position in shares of Polaris by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,144 shares of the company's stock worth $511,000 after buying an additional 410 shares during the last quarter. Van ECK Associates Corp raised its stake in Polaris by 35.2% during the 3rd quarter. Van ECK Associates Corp now owns 40,966 shares of the company's stock worth $3,410,000 after acquiring an additional 10,664 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in Polaris during the 3rd quarter worth $274,000. Keynote Financial Services LLC lifted its position in Polaris by 14.3% in the third quarter. Keynote Financial Services LLC now owns 6,094 shares of the company's stock valued at $507,000 after acquiring an additional 761 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Polaris by 0.7% in the third quarter. Confluence Investment Management LLC now owns 1,039,359 shares of the company's stock valued at $86,516,000 after acquiring an additional 6,724 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

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.