Polaris (NYSE:PII) Price Target Lowered to $30.00 at Truist Financial

Polaris (NYSE:PII - Free Report) had its price objective reduced by Truist Financial from $55.00 to $30.00 in a research note released on Monday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada restated a "sector perform" rating and set a $54.00 target price on shares of Polaris in a research report on Monday, March 17th. DA Davidson dropped their target price 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. Roth Mkm reduced 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. Robert W. Baird lowered Polaris from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $56.00 to $40.00 in a research report on Friday, April 4th. Finally, StockNews.com lowered Polaris from a "hold" rating to a "sell" rating in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $50.64.

Polaris Price Performance

PII stock traded up $0.73 during mid-day trading on Monday, hitting $33.09. The stock had a trading volume of 1,575,223 shares, compared to its average volume of 1,078,497. The company has a current ratio of 1.15, a quick ratio of 0.39 and a debt-to-equity ratio of 1.27. Polaris has a 52 week low of $30.92 and a 52 week high of $90.62. The firm has a market capitalization of $1.86 billion, a P/E ratio of 16.88, a P/E/G ratio of 13.95 and a beta of 1.32. The firm has a fifty day simple moving average of $41.40 and a 200 day simple moving average of $56.39.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating 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, research analysts forecast that Polaris will post 1.11 EPS for the current year.

Polaris Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.67 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 8.10%. This is a positive change from Polaris's previous quarterly dividend of $0.66. Polaris's dividend payout ratio is currently 136.73%.

Institutional Trading of Polaris

Several hedge funds have recently made changes to their positions in PII. Robertson Stephens Wealth Management LLC raised its position in Polaris by 41.6% in the first quarter. Robertson Stephens Wealth Management LLC now owns 12,038 shares of the company's stock valued at $493,000 after purchasing an additional 3,538 shares during the period. RWWM Inc. lifted its position in Polaris by 169.2% in the first quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock valued at $98,053,000 after buying an additional 1,505,351 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in Polaris during the first quarter worth about $35,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Polaris by 162.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,423 shares of the company's stock valued at $427,000 after acquiring an additional 6,453 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Polaris by 46.9% in the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company's stock worth $41,000 after acquiring an additional 318 shares during 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.