Polaris (NYSE:PII) Sets New 52-Week Low – Here’s Why

Polaris Inc. (NYSE:PII) shares hit a new 52-week low on Thursday . The stock traded as low as $39.29 and last traded at $42.66, with a volume of 230994 shares traded. The stock had previously closed at $42.56.

Analysts Set New Price Targets

PII has been the topic of several research reports. StockNews.com cut shares of Polaris from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Robert W. Baird reduced their price target on shares of Polaris from $64.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, March 17th. Citigroup cut shares of Polaris from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $49.00 to $33.00 in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $54.00 price target on shares of Polaris in a research report on Monday, March 17th. Finally, Roth Mkm cut their price objective on shares of Polaris from $76.00 to $57.00 and set a “neutral” rating on the stock in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.83.

Polaris Price Performance

The stock has a market capitalization of $2.35 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 13.95 and a beta of 1.54. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. The stock’s 50 day moving average price is $47.26 and its 200-day moving average price is $62.78.

Polaris (NYSE:PII) last issued its earnings results 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 net margin of 1.54% and a return on equity of 13.78%. As a group, equities analysts forecast that Polaris Inc. will post 1.11 EPS for the current year.

Polaris Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.67 per share. This is a positive change from Polaris’s previous quarterly dividend of $0.66. This represents a $2.68 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend was Monday, March 3rd. Polaris’s payout ratio is currently 136.73%.

Institutional Trading of Polaris

A number of hedge funds have recently added to or reduced their stakes in PII. Larson Financial Group LLC lifted its stake in Polaris by 386.5% in the fourth quarter. Larson Financial Group LLC now owns 506 shares of the company’s stock worth $29,000 after acquiring an additional 402 shares during the period. Twin Tree Management LP purchased a new stake in Polaris in the fourth quarter worth about $29,000. Lindbrook Capital LLC lifted its stake in Polaris by 295.4% in the fourth quarter. Lindbrook Capital LLC now owns 518 shares of the company’s stock worth $30,000 after acquiring an additional 387 shares during the period. Quarry LP lifted its stake 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. Finally, GAMMA Investing LLC lifted its stake in Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock worth $56,000 after acquiring an additional 677 shares during the period. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.