Polaris (NYSE:PII) Price Target Cut to $75.00

Polaris (NYSE:PII) had its price objective reduced by stock analysts at BMO Capital Markets from $90.00 to $75.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 5.06% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Bank of America initiated coverage on Polaris in a report on Wednesday, April 3rd. They set a “neutral” rating and a $110.00 target price on the stock. Robert W. Baird decreased their target price on shares of Polaris from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 3rd. Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Monday, April 8th. Citigroup decreased their price objective on shares of Polaris from $96.00 to $86.00 and set a “neutral” rating for the company in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada cut their price target on Polaris from $103.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Polaris presently has an average rating of “Hold” and a consensus price target of $89.18.

Polaris Stock Up 8.4 %

PII opened at $79.00 on Wednesday. Polaris has a 1 year low of $71.90 and a 1 year high of $138.49. The firm has a 50 day moving average price of $79.36 and a 200 day moving average price of $86.86. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.42 and a current ratio of 1.47. The company has a market cap of $4.46 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 7.01 and a beta of 1.53.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, July 23rd. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.89). Polaris had a net margin of 3.98% and a return on equity of 26.20%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the prior year, the business posted $2.42 EPS. The business’s revenue was down 11.5% on a year-over-year basis. Sell-side analysts expect that Polaris will post 3.76 earnings per share for the current year.

Institutional Trading of Polaris

Large investors have recently modified their holdings of the company. Lantz Financial LLC raised its holdings in Polaris by 0.8% during the first quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after purchasing an additional 114 shares in the last quarter. JLB & Associates Inc. lifted its holdings in shares of Polaris by 0.5% in the second quarter. JLB & Associates Inc. now owns 24,476 shares of the company’s stock valued at $1,917,000 after buying an additional 120 shares during the period. Fifth Third Bancorp boosted its stake in Polaris by 3.3% during the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock valued at $377,000 after buying an additional 122 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Polaris by 2.8% during the fourth quarter. New York Life Investment Management LLC now owns 6,088 shares of the company’s stock worth $577,000 after acquiring an additional 167 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Polaris by 14.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,331 shares of the company’s stock worth $133,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds 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.