New Age Alpha Advisors LLC Invests $309,000 in Polaris Inc. (NYSE:PII)

Key Points

• New Age Alpha Advisors LLC has invested approximately $309,000 in Polaris Inc. by acquiring 7,559 shares in the first quarter, according to a recent SEC filing.
• Analysts have varied opinions on Polaris, with price targets ranging from $29.00 to $55.00 and a consensus rating of "Hold" based on recent analyst reports.
• Polaris announced a quarterly dividend of $0.67, reflecting a 5.2% dividend yield, despite a reported negative net margin of 1.57% for the recent quarter.

New Age Alpha Advisors LLC bought a new position in shares of Polaris Inc. (NYSE:PII - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,559 shares of the company's stock, valued at approximately $309,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in 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 buying 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 approximately $35,000. Fifth Third Bancorp grew its stake 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 buying an additional 318 shares during the period. Allworth Financial LP grew its stake 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 buying an additional 1,194 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Polaris by 191.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,214 shares of the company's stock worth $50,000 after purchasing an additional 797 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PII. Royal Bank Of Canada lifted their target price on Polaris from $34.00 to $56.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Robert W. Baird upped their price objective on Polaris from $46.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Wall Street Zen raised Polaris from a "strong sell" rating to a "hold" rating in a report on Saturday, August 2nd. Truist Financial lowered their price target on shares of Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup reiterated a "sell" rating and issued a $27.00 price target (up from $23.00) on shares of Polaris in a research report on Monday, June 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $48.33.

Polaris Stock Performance

Polaris stock traded up $3.03 during midday trading on Tuesday, reaching $55.26. 1,029,977 shares of the company's stock were exchanged, compared to its average volume of 1,718,645. The stock's 50-day simple moving average is $46.08 and its 200 day simple moving average is $42.44. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of -29.39 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. Polaris Inc. has a 52 week low of $30.92 and a 52 week high of $87.83.

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

Polaris Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.68 annualized dividend and a yield of 4.8%. Polaris's dividend payout ratio is currently -142.55%.

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.