Polaris (NYSE:PII) Price Target Cut to $84.00 by Analysts at DA Davidson

Polaris (NYSE:PII) had its price objective decreased by DA Davidson from $87.00 to $84.00 in a research note published on Thursday morning, Benzinga reports. DA Davidson currently has a buy rating on the stock. DA Davidson also issued estimates for Polaris’ Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.50 EPS and FY2024 earnings at $3.15 EPS.

Other research analysts have also recently issued research reports about the stock. Truist Financial dropped their price objective on shares of Polaris from $92.00 to $82.00 and set a “hold” rating for the company in a report on Monday, July 8th. Bank of America decreased their target price on Polaris from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Robert W. Baird lowered their price objective on Polaris from $85.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Longbow Research reaffirmed a “neutral” rating on shares of Polaris in a report on Wednesday, July 24th. Finally, BMO Capital Markets reduced their price objective on shares of Polaris from $90.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and an average target price of $87.09.

Polaris Price Performance

Shares of NYSE:PII traded up $1.17 during midday trading on Thursday, reaching $71.92. 168,584 shares of the company’s stock traded hands, compared to its average volume of 729,097. The company has a market cap of $4.01 billion, a P/E ratio of 19.77, a PEG ratio of 7.48 and a beta of 1.51. The company has a fifty day simple moving average of $81.81 and a two-hundred day simple moving average of $81.96. Polaris has a 1 year low of $68.59 and a 1 year high of $100.91. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 1.21.

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

Polaris Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.67%. Polaris’s dividend payout ratio (DPR) is 73.74%.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently made changes to their positions in PII. American Century Companies Inc. raised its stake in shares of Polaris by 311.6% during the second quarter. American Century Companies Inc. now owns 387,012 shares of the company’s stock valued at $30,307,000 after purchasing an additional 292,992 shares in the last quarter. Eubel Brady & Suttman Asset Management Inc. acquired a new position in Polaris during the second quarter worth about $15,363,000. RWWM Inc. raised its position in Polaris by 192.3% in the second quarter. RWWM Inc. now owns 272,452 shares of the company’s stock worth $21,334,000 after acquiring an additional 179,244 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Polaris by 10.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 983,206 shares of the company’s stock valued at $76,994,000 after acquiring an additional 96,194 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Polaris by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,902,162 shares of the company’s stock valued at $590,924,000 after purchasing an additional 94,680 shares during 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.