Polaris (NYSE:PII) Receives "Market Perform" Rating from BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Polaris (NYSE:PII) from $33.00 to $52.00, while maintaining a "market perform" rating.
• Institutional investors have significantly increased their holdings in Polaris, with firms like RWWM Inc. and Goldman Sachs Group raising their positions by over 169% and 677% respectively.
• Polaris reported a quarterly earnings surprise with earnings per share of $0.40, surpassing the consensus estimate of $0.05, despite a 5.5% year-over-year decline in revenue.

BMO Capital Markets reiterated their market perform rating on shares of Polaris (NYSE:PII - Free Report) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $52.00 target price on the stock, up from their previous target price of $33.00.

Several other research firms also recently weighed in on PII. Robert W. Baird increased their price target on Polaris from $46.00 to $55.00 and gave the stock a "neutral" rating in a research note on Wednesday. Royal Bank Of Canada increased their price target on Polaris from $34.00 to $56.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Citigroup reiterated a "sell" rating and set a $27.00 price target (up previously from $23.00) on shares of Polaris in a research note on Monday, June 16th. Wall Street Zen downgraded Polaris from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Finally, Baird R W downgraded Polaris from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $48.33.

Polaris Stock Performance

NYSE:PII traded down $3.34 during trading on Wednesday, reaching $49.57. The company's stock had a trading volume of 2,201,354 shares, compared to its average volume of 1,642,595. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -26.37 and a beta of 1.04. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.37 and a current ratio of 1.04. The firm has a 50 day moving average of $44.54 and a 200-day moving average of $42.65. Polaris has a 12 month low of $30.92 and a 12 month high of $87.83.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.35. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Research analysts expect that Polaris will post 1.11 EPS for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 dividend on an annualized basis and a yield of 5.4%. Polaris's dividend payout ratio is -142.55%.

Institutional Trading of Polaris

A number of institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its holdings in shares of Polaris by 114.1% in the 1st quarter. UMB Bank n.a. now owns 805 shares of the company's stock valued at $33,000 after acquiring an additional 429 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Polaris in the 1st quarter valued at about $35,000. Fifth Third Bancorp raised its holdings in shares of Polaris by 46.9% in the 1st quarter. Fifth Third Bancorp now owns 996 shares of the company's stock valued at $41,000 after acquiring an additional 318 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Polaris by 191.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock valued at $50,000 after acquiring an additional 797 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Polaris by 7,462.5% in the 1st quarter. Allworth Financial LP now owns 1,210 shares of the company's stock valued at $50,000 after acquiring an additional 1,194 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company's stock.

Polaris Company Profile

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.