Truist Financial Issues Pessimistic Forecast for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII) had its price target dropped by equities researchers at Truist Financial from $60.00 to $55.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target suggests a potential upside of 7.29% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. DA Davidson decreased their price objective on shares of Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a report on Friday, January 17th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 price target (down from $81.00) on shares of Polaris in a report on Tuesday, January 21st. StockNews.com downgraded Polaris from a “hold” rating to a “sell” rating in a report on Wednesday, January 8th. Roth Mkm lowered their target price on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research note on Friday, January 24th. Finally, Citigroup reduced their price target on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $72.64.

Polaris Stock Down 9.3 %

Shares of NYSE:PII opened at $51.26 on Wednesday. Polaris has a 12-month low of $51.17 and a 12-month high of $100.91. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 6.05 and a beta of 1.53. The stock has a fifty day simple moving average of $60.12 and a two-hundred day simple moving average of $72.47. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.03. Polaris had a net margin of 2.64% and a return on equity of 17.92%. On average, research analysts anticipate that Polaris will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Polaris

A number of hedge funds have recently modified their holdings of the business. Angeles Wealth Management LLC bought a new stake in Polaris during the fourth quarter valued at about $1,318,000. Empowered Funds LLC lifted its position in shares of Polaris by 38.2% during the 4th quarter. Empowered Funds LLC now owns 21,413 shares of the company’s stock valued at $1,234,000 after buying an additional 5,918 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of Polaris during the 4th quarter valued at approximately $220,000. State of Alaska Department of Revenue increased its holdings in Polaris by 371.7% in the 4th quarter. State of Alaska Department of Revenue now owns 28,979 shares of the company’s stock worth $1,669,000 after acquiring an additional 22,835 shares in the last quarter. Finally, Caprock Group LLC raised its stake in Polaris by 174.4% during the 4th quarter. Caprock Group LLC now owns 10,531 shares of the company’s stock worth $607,000 after acquiring an additional 6,693 shares during the period. Institutional investors own 88.06% of the company’s stock.

Polaris Company Profile

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.