Polaris (NYSE:PII) Stock Price Down 7.4% After Analyst Downgrade

Polaris Inc. (NYSE:PII - Get Free Report) shares traded down 7.4% on Monday 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 $43.93 and last traded at $44.19. 581,547 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,634,942 shares. The stock had previously closed at $47.70.

A number of other analysts have also recently weighed in on PII. BMO Capital Markets decreased their target price on shares of Polaris from $60.00 to $50.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 29th. DA Davidson lowered their target price on Polaris from $69.00 to $60.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Citigroup cut their price target on Polaris from $57.00 to $53.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $60.00 price objective (down previously from $81.00) on shares of Polaris in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada cut their target price on shares of Polaris from $65.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Polaris presently has a consensus rating of "Hold" and an average price target of $66.17.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently bought and sold shares of the company. National Bank of Canada FI grew its stake in Polaris by 19.9% in the third quarter. National Bank of Canada FI now owns 1,101 shares of the company's stock valued at $92,000 after acquiring an additional 183 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Polaris by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company's stock worth $1,676,000 after purchasing an additional 183 shares in the last quarter. Quarry LP increased its stake in Polaris by 187.4% during the 3rd quarter. Quarry LP now owns 388 shares of the company's stock valued at $32,000 after purchasing an additional 253 shares in the last quarter. Claro Advisors LLC raised its holdings in Polaris by 3.3% during the third quarter. Claro Advisors LLC now owns 7,881 shares of the company's stock worth $656,000 after buying an additional 254 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Polaris by 7.9% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company's stock valued at $208,000 after buying an additional 263 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Polaris Trading Down 2.2 %

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 company has a market capitalization of $2.47 billion, a P/E ratio of 22.62, a P/E/G ratio of 14.51 and a beta of 1.50. The firm's 50-day moving average price is $56.63 and its 200 day moving average price is $70.55.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. As a group, equities research analysts predict that Polaris Inc. will post 1.11 earnings per share for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.67 per share. 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. The ex-dividend date of this dividend is Monday, March 3rd. Polaris's payout ratio is currently 134.69%.

Polaris Company Profile

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.