Polaris (NYSE:PII) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Polaris (NYSE:PII) from a hold rating to a buy rating in a report issued on Wednesday.

A number of other research analysts also recently issued reports on the company. Morgan Stanley raised Polaris from an equal weight rating to an overweight rating and upped their price target for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Longbow Research raised shares of Polaris from a neutral rating to a buy rating and set a $120.00 price objective for the company in a report on Monday, April 8th. Bank of America started coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 target price on the stock. KeyCorp decreased their target price on shares of Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Finally, DA Davidson reissued a neutral rating and set a $80.00 price target on shares of Polaris in a report on Tuesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $100.27.

Polaris Stock Up 0.6 %

Shares of NYSE:PII opened at $83.81 on Wednesday. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The company has a current ratio of 1.47, a quick ratio of 0.46 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $92.40 and a two-hundred day simple moving average of $91.41. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 2.44 and a beta of 1.60.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a net margin of 4.63% and a return on equity of 31.39%. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, research analysts anticipate that Polaris will post 7.94 earnings per share for the current fiscal year.

Polaris Announces Dividend

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

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lantz Financial LLC grew its stake in shares of Polaris by 0.8% during the 1st quarter. Lantz Financial LLC now owns 14,784 shares of the company’s stock valued at $1,480,000 after acquiring an additional 114 shares during the period. Treasurer of the State of North Carolina boosted its position in shares of Polaris by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 23,679 shares of the company’s stock worth $2,466,000 after purchasing an additional 120 shares during the period. Fifth Third Bancorp increased its stake in shares of Polaris by 3.3% in the first quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock worth $377,000 after purchasing an additional 122 shares in the last quarter. Security National Bank of SO Dak raised its position in shares of Polaris by 1.5% during the 3rd quarter. Security National Bank of SO Dak now owns 8,730 shares of the company’s stock valued at $909,000 after purchasing an additional 130 shares during the period. Finally, Miracle Mile Advisors LLC lifted its stake in shares of Polaris by 5.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 2,735 shares of the company’s stock valued at $285,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.