Polaris (NYSE:PII) Downgraded by KeyCorp to Sector Weight

KeyCorp downgraded shares of Polaris (NYSE:PII) from an overweight rating to a sector weight rating in a research report sent to investors on Wednesday morning, Marketbeat reports.

A number of other brokerages also recently issued reports on PII. StockNews.com raised Polaris from a “sell” rating to a “hold” rating in a report on Monday, December 30th. DA Davidson reduced their price target on Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Robert W. Baird cut their target price on Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday, December 30th. Truist Financial cut their target price on Polaris from $76.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada dropped their price target on Polaris from $82.00 to $73.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.00.

Polaris Stock Down 4.4 %

Shares of NYSE PII opened at $55.54 on Wednesday. The company has a market cap of $3.10 billion, a P/E ratio of 15.51, a P/E/G ratio of 6.59 and a beta of 1.53. The company has a quick ratio of 0.32, a current ratio of 1.21 and a debt-to-equity ratio of 1.28. The business has a 50-day simple moving average of $63.96 and a two-hundred day simple moving average of $74.64. Polaris has a 52 week low of $55.19 and a 52 week high of $100.91.

Polaris (NYSE:PII) last posted its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. Polaris’s quarterly revenue was down 23.4% on a year-over-year basis. During the same period last year, the firm posted $2.71 earnings per share. Research analysts anticipate that Polaris will post 3.22 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend was Monday, December 2nd. Polaris’s dividend payout ratio (DPR) is presently 73.74%.

Institutional Investors Weigh In On Polaris

Several institutional investors have recently modified their holdings of PII. Nordea Investment Management AB boosted its position in Polaris by 0.6% in the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock valued at $1,676,000 after buying an additional 183 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after purchasing an additional 677 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Polaris by 12.2% in the third quarter. Franklin Resources Inc. now owns 169,004 shares of the company’s stock valued at $13,745,000 after acquiring an additional 18,418 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Polaris in the third quarter valued at approximately $535,000. Finally, Toronto Dominion Bank boosted its holdings in Polaris by 2.9% during the third quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock worth $1,372,000 after buying an additional 465 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.