Polaris (NYSE:PII) Hits New 12-Month Low on Analyst Downgrade

Polaris Inc. (NYSE:PII) shares hit a new 52-week low during trading on Thursday after Citigroup lowered their price target on the stock from $73.00 to $57.00. Citigroup currently has a neutral rating on the stock. Polaris traded as low as $52.62 and last traded at $53.00, with a volume of 75801 shares traded. The stock had previously closed at $53.76.

PII has been the topic of several other reports. DA Davidson dropped their target price on Polaris from $84.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Robert W. Baird dropped their price target on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. KeyCorp cut shares of Polaris from an “overweight” rating to a “sector weight” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $60.00 price objective (down from $81.00) on shares of Polaris in a report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Polaris currently has an average rating of “Hold” and an average target price of $75.45.

Hedge Funds Weigh In On Polaris

Several hedge funds and other institutional investors have recently modified their holdings of the company. Venturi Wealth Management LLC boosted its holdings in shares of Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock worth $29,000 after buying an additional 294 shares during the last quarter. Quarry LP raised its position in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock worth $32,000 after acquiring an additional 253 shares during the period. Blue Trust Inc. raised its position in Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock worth $32,000 after acquiring an additional 389 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Polaris during the 2nd quarter worth $57,000. Finally, GAMMA Investing LLC grew its position in shares of Polaris by 232.6% during the 4th quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 shares during the period. 88.06% of the stock is owned by institutional investors.

Polaris Trading Down 0.6 %

The company has a market capitalization of $2.98 billion, a P/E ratio of 14.90, a PEG ratio of 6.02 and a beta of 1.53. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.32 and a current ratio of 1.21. The stock has a fifty day moving average of $61.14 and a 200 day moving average of $73.14.

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

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.