Polaris Inc. (NYSE:PII) Short Interest Down 24.6% in March

Polaris Inc. (NYSE:PII - Get Free Report) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 6,080,000 shares, a decrease of 24.6% from the February 28th total of 8,060,000 shares. Based on an average daily volume of 1,650,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 11.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PII. DA Davidson reduced 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. Truist Financial reduced their price target on shares of Polaris from $60.00 to $55.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $54.00 price objective on shares of Polaris in a report on Monday, March 17th. Roth Mkm dropped their target price on Polaris from $76.00 to $57.00 and set a "neutral" rating on the stock in a report on Friday, January 24th. Finally, StockNews.com lowered Polaris from a "hold" rating to a "sell" rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $59.83.

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Institutional Trading of Polaris

A number of hedge funds have recently modified their holdings of PII. Larson Financial Group LLC raised its position in Polaris by 386.5% during the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company's stock valued at $29,000 after buying an additional 402 shares during the period. Twin Tree Management LP purchased a new position in Polaris during the 4th quarter valued at about $29,000. Lindbrook Capital LLC increased its holdings in shares of Polaris by 295.4% in the 4th quarter. Lindbrook Capital LLC now owns 518 shares of the company's stock valued at $30,000 after purchasing an additional 387 shares during the period. Quarry LP lifted its position in shares of Polaris by 187.4% in the third 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. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Polaris by 191.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock worth $50,000 after purchasing an additional 797 shares during the period. Hedge funds and other institutional investors own 88.06% of the company's stock.

Polaris Trading Up 0.9 %

Shares of NYSE PII traded up $0.38 during mid-day trading on Tuesday, hitting $41.32. 1,085,963 shares of the company traded hands, compared to its average volume of 992,367. 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 has a 1 year low of $39.29 and a 1 year high of $100.91. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 13.95 and a beta of 1.54. The business has a 50 day moving average of $45.61 and a two-hundred day moving average of $60.95.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 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%. On average, sell-side analysts anticipate that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 6.49%. This is a boost from Polaris's previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. Polaris's payout ratio is presently 136.73%.

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.