Royal Bank of Canada Trims Polaris (NYSE:PII) Target Price to $73.00

Polaris (NYSE:PII) had its price target reduced by Royal Bank of Canada from $82.00 to $73.00 in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America decreased their target price on shares of Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Roth Mkm dropped their price objective on Polaris from $92.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. KeyCorp reduced their target price on Polaris from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup decreased their price objective on shares of Polaris from $86.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, BMO Capital Markets reduced their target price on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $87.09.

Polaris Stock Up 0.7 %

Shares of PII stock opened at $71.23 on Wednesday. The firm’s fifty day moving average price is $81.58 and its two-hundred day moving average price is $81.78. The company has a current ratio of 1.21, a quick ratio of 0.40 and a debt-to-equity ratio of 1.28. Polaris has a 1 year low of $68.59 and a 1 year high of $100.91. The firm has a market capitalization of $3.97 billion, a P/E ratio of 19.90, a PEG ratio of 7.48 and a beta of 1.51.

Polaris (NYSE:PII) last released its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.15). Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period in the prior year, the firm posted $2.71 EPS. Polaris’s revenue was down 23.4% compared to the same quarter last year. On average, equities analysts predict that Polaris will post 3.25 EPS for the current fiscal year.

Polaris Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.71%. Polaris’s dividend payout ratio is currently 73.74%.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PII. New England Capital Financial Advisors LLC bought a new position in shares of Polaris in the first quarter worth $25,000. Bessemer Group Inc. grew its stake in Polaris by 174.1% during the first quarter. Bessemer Group Inc. now owns 370 shares of the company’s stock worth $37,000 after buying an additional 235 shares in the last quarter. Blue Trust Inc. increased its holdings in Polaris by 2,431.3% in the 3rd quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after buying an additional 389 shares during the period. Signaturefd LLC raised its position in shares of Polaris by 1,931.3% in the 2nd quarter. Signaturefd LLC now owns 650 shares of the company’s stock valued at $51,000 after buying an additional 618 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of Polaris during the 2nd quarter worth approximately $57,000. 88.06% of the stock is 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.