Polaris (NYSE:PII) Sets New 1-Year Low – Here’s Why

Polaris Inc. (NYSE:PII) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $37.14 and last traded at $37.25, with a volume of 680447 shares changing hands. The stock had previously closed at $42.61.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PII. Roth Mkm decreased their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a report on Friday, January 24th. StockNews.com downgraded shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Truist Financial reduced their target price on shares of Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. KeyCorp downgraded Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, Citigroup downgraded shares of Polaris from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $49.00 to $33.00 in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Polaris has an average rating of “Hold” and an average price target of $59.83.

Polaris Price Performance

The company has a market cap of $2.03 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company has a fifty day simple moving average of $45.12 and a two-hundred day simple moving average of $60.54. 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 (NYSE:PII) last announced its earnings results 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 return on equity of 13.78% and a net margin of 1.54%. On average, equities research analysts anticipate that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 7.40%. This is a positive change from Polaris’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Monday, March 3rd. Polaris’s dividend payout ratio is 136.73%.

Institutional Investors Weigh In On Polaris

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its position in Polaris by 386.5% during the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 402 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of Polaris during the fourth quarter worth $29,000. Lindbrook Capital LLC grew its position in shares of Polaris by 295.4% in the fourth 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 increased its stake in Polaris by 187.4% in the third 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. Finally, MassMutual Private Wealth & Trust FSB lifted its position in 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 buying an additional 797 shares during the period. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

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.