BMO Capital Markets Cuts Polaris (NYSE:PII) Price Target to $50.00

Polaris (NYSE:PII) had its price target dropped by stock analysts at BMO Capital Markets from $60.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 0.98% from the company’s current price.

Several other research analysts have also issued reports on PII. Truist Financial dropped their price objective on Polaris from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday. Roth Mkm cut their price objective on Polaris from $76.00 to $57.00 and set a “neutral” rating for the company in a research report on Friday, January 24th. Citigroup dropped their price objective on shares of Polaris from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday. DA Davidson dropped their target price on Polaris from $84.00 to $69.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Robert W. Baird decreased their price target on Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a report on Monday, December 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.36.

Polaris Stock Performance

Shares of NYSE PII traded down $1.83 during trading hours on Wednesday, hitting $49.52. 1,053,010 shares of the company’s stock were exchanged, compared to its average volume of 1,450,015. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32. The company’s 50-day moving average price is $60.12 and its 200-day moving average price is $72.47. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 6.05 and a beta of 1.53. Polaris has a 1-year low of $48.44 and a 1-year high of $100.91.

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

Hedge Funds Weigh In On Polaris

Institutional investors have recently bought and sold shares of the business. National Bank of Canada FI raised its stake in Polaris by 19.9% in the 3rd quarter. National Bank of Canada FI now owns 1,101 shares of the company’s stock worth $92,000 after purchasing an additional 183 shares in the last quarter. Nordea Investment Management AB increased its stake in Polaris by 0.6% during the 4th quarter. Nordea Investment Management AB now owns 28,811 shares of the company’s stock worth $1,676,000 after acquiring an additional 183 shares during the period. Quarry LP raised its holdings in Polaris by 187.4% in the 3rd quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares in the last quarter. Claro Advisors LLC lifted its position in shares of Polaris by 3.3% during the 3rd quarter. Claro Advisors LLC now owns 7,881 shares of the company’s stock valued at $656,000 after acquiring an additional 254 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Polaris by 7.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,601 shares of the company’s stock worth $208,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds 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.