Royal Bank of Canada Cuts Polaris (NYSE:PII) Price Target to $54.00

Polaris (NYSE:PII) had its price objective reduced by equities research analysts at Royal Bank of Canada from $65.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.31% from the stock’s previous close.

A number of other research firms have also recently weighed in on PII. 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. Truist Financial decreased their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating on the stock in a research report on Wednesday. KeyCorp cut Polaris from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, January 8th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price (down previously from $81.00) on shares of Polaris in a research report on Tuesday, January 21st. Finally, BMO Capital Markets lowered their price target on shares of Polaris from $60.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.64.

Polaris Price Performance

NYSE:PII traded down $1.94 on Wednesday, reaching $49.40. 1,184,830 shares of the company’s stock traded hands, compared to its average volume of 1,457,773. The firm has a market cap of $2.75 billion, a PE ratio of 13.82, a P/E/G ratio of 6.05 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 stock has a 50-day simple moving average of $60.12 and a 200-day simple moving average of $72.47. Polaris has a 12 month low of $48.44 and a 12 month high of $100.91.

Polaris (NYSE:PII) last released its earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 17.92% and a net margin of 2.64%. Equities research analysts forecast that Polaris will post 3.22 earnings per share for the current year.

Institutional Investors Weigh In On Polaris

Institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in Polaris by 534.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after purchasing an additional 294 shares during the period. Quarry LP raised its position in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after purchasing an additional 253 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Polaris by 2,431.3% during the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after purchasing an additional 389 shares during the last quarter. GAMMA Investing LLC raised its holdings 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 buying an additional 677 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Polaris by 19.9% during the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after buying an additional 183 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.