Polaris (NYSE:PII) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised Polaris’ price target from $56 to $61 while maintaining a “neutral” rating, implying approximately 1.24% upside from the reported share price.
• Analyst sentiment remains cautious: Polaris has a consensus “Hold” rating, with one Buy, eleven Hold, and one Sell recommendation; the average price target is $62.38.
• Polaris reported stronger-than-expected quarterly results, posting $1.08 in earnings per share versus the $0.59 consensus estimate and revenue of $2.04 billion, up 10.9% year over year.

Polaris (NYSE:PII - Get Free Report) had its target price upped by stock analysts at Citigroup from $56.00 to $61.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 1.24% from the stock's current price.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of Polaris from $75.00 to $72.00 and set a "sector perform" rating on the stock in a research report on Wednesday. Zacks Research lowered shares of Polaris from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Roth Capital reissued a "neutral" rating on shares of Polaris in a research report on Wednesday, July 29th. Wells Fargo & Company decreased their target price on Polaris from $70.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Monday, October 19th. Finally, UBS Group lowered their price target on Polaris from $67.00 to $61.00 and set a "neutral" rating on the stock in a research note on Friday, September 18th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Polaris has a consensus rating of "Hold" and an average price target of $62.38.

Polaris Stock Performance

NYSE:PII traded up $1.61 during mid-day trading on Thursday, hitting $60.25. 385,041 shares of the company's stock traded hands, compared to its average volume of 999,601. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of -12.98 and a beta of 1.32. The firm has a 50 day moving average of $56.77 and a two-hundred day moving average of $62.72. The company has a current ratio of 1.20, a quick ratio of 0.47 and a debt-to-equity ratio of 2.28. Polaris has a 12 month low of $47.14 and a 12 month high of $77.98.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.49. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.90 billion. Polaris had a positive return on equity of 16.77% and a negative net margin of 3.50%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.28) earnings per share. On average, equities analysts forecast that Polaris will post 3.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Polaris

Institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new position in shares of Polaris in the second quarter valued at approximately $7,576,000. Allianz Asset Management GmbH grew its position in Polaris by 272.7% during the 2nd quarter. Allianz Asset Management GmbH now owns 386,300 shares of the company's stock worth $26,438,000 after acquiring an additional 282,651 shares during the last quarter. Legal & General Group Plc bought a new stake in Polaris during the 2nd quarter worth approximately $5,222,000. Bank of America Corp DE acquired a new stake in Polaris during the 2nd quarter valued at $17,374,000. Finally, Renaissance Technologies LLC increased its holdings in Polaris by 87.1% during the 1st quarter. Renaissance Technologies LLC now owns 225,800 shares of the company's stock valued at $12,306,000 after purchasing an additional 105,100 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

About Polaris

Polaris Inc is a manufacturer of powersports products headquartered in Medina, Minnesota. Founded in 1954, the company began as a snowmobile manufacturer and has expanded into a diversified portfolio of off-road vehicles, motorcycles, snowmobiles and boats.

Its off-road vehicle lineup includes utility and recreational models sold under brands such as RANGER, RZR, Sportsman and GENERAL. Polaris also manufactures snowmobiles under the Polaris brand and motorcycles through Indian Motorcycle and Slingshot.

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