Polaris (NYSE:PII) Price Target Lowered to $97.00 at Royal Bank of Canada

Polaris (NYSE:PII) had its target price cut by Royal Bank of Canada from $103.00 to $97.00 in a research note released on Wednesday, Benzinga reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued research reports about the company. DA Davidson reaffirmed a neutral rating and issued a $80.00 price objective on shares of Polaris in a report on Tuesday, March 5th. KeyCorp lowered their price objective on Polaris from $115.00 to $105.00 and set an overweight rating on the stock in a report on Friday, January 12th. BMO Capital Markets decreased their price target on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a research note on Wednesday, January 31st. Longbow Research raised Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a research note on Monday, April 8th. Finally, Bank of America began coverage on Polaris in a research note on Wednesday, April 3rd. They set a neutral rating and a $110.00 price target on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $100.27.

Polaris Price Performance

Shares of PII opened at $83.81 on Wednesday. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The stock’s 50 day moving average is $92.40 and its two-hundred day moving average is $91.41. The firm has a market capitalization of $4.74 billion, a PE ratio of 12.29, a P/E/G ratio of 2.45 and a beta of 1.60. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46.

Polaris (NYSE:PII) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts anticipate that Polaris will post 8 earnings per share for the current year.

Polaris Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.66 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.64 annualized dividend and a dividend yield of 3.15%. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Lantz Financial LLC raised its position in shares of Polaris by 0.8% during the 1st quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock worth $1,480,000 after purchasing an additional 114 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Polaris by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock valued at $2,466,000 after acquiring an additional 120 shares during the last quarter. Fifth Third Bancorp raised its holdings in Polaris by 3.3% in the 1st quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock valued at $377,000 after acquiring an additional 122 shares during the last quarter. Security National Bank of SO Dak raised its holdings in Polaris by 1.5% in the 3rd quarter. Security National Bank of SO Dak now owns 8,730 shares of the company’s stock valued at $909,000 after acquiring an additional 130 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in Polaris by 5.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,735 shares of the company’s stock valued at $285,000 after acquiring an additional 139 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.