Citigroup Lowers Polaris (NYSE:PII) Price Target to $96.00

Polaris (NYSE:PII - Free Report) had its price target reduced by Citigroup from $100.00 to $96.00 in a research report report published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on the company. DA Davidson reiterated a neutral rating and issued a $80.00 target price on shares of Polaris in a research report on Tuesday, March 5th. Morgan Stanley upgraded Polaris from an equal weight rating to an overweight rating and upped their target price for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Bank of America assumed coverage on Polaris in a report on Wednesday, April 3rd. They issued a neutral rating and a $110.00 target price on the stock. Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 price target on the stock in a report on Monday, April 8th. Finally, BMO Capital Markets cut their price target on Polaris from $100.00 to $95.00 and set a market perform rating on the stock in a report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Polaris has an average rating of Hold and an average price target of $100.27.

Polaris Stock Performance

Shares of PII traded down $1.29 during midday trading on Wednesday, reaching $85.21. 1,176,846 shares of the stock were exchanged, compared to its average volume of 693,952. Polaris has a twelve month low of $82.00 and a twelve month high of $138.49. The company has a quick ratio of 0.46, a current ratio of 1.39 and a debt-to-equity ratio of 1.31. The company has a market cap of $4.81 billion, a P/E ratio of 9.79, a PEG ratio of 2.39 and a beta of 1.60. The stock's 50 day simple moving average is $92.86 and its 200 day simple moving average is $91.61.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.17. Polaris had a return on equity of 40.98% and a net margin of 5.63%. The company had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.75 billion. During the same quarter last year, the business earned $2.05 earnings per share. Polaris's revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts expect that Polaris will post 7.97 earnings per share for the current year.

Polaris Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.66 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from Polaris's previous quarterly dividend of $0.65. This represents a $2.64 annualized dividend and a dividend yield of 3.10%. Polaris's dividend payout ratio (DPR) is currently 30.34%.

Institutional Investors Weigh In On Polaris

Large investors have recently made changes to their positions in the business. Creekmur Asset Management LLC purchased a new stake in shares of Polaris during the 4th quarter valued at $27,000. BKM Wealth Management LLC bought a new position in shares of Polaris during the 4th quarter worth $31,000. Larson Financial Group LLC grew its stake in shares of Polaris by 536.5% during the 3rd quarter. Larson Financial Group LLC now owns 401 shares of the company's stock worth $42,000 after acquiring an additional 338 shares during the period. First United Bank & Trust bought a new position in shares of Polaris during the 4th quarter worth $40,000. Finally, Orion Capital Management LLC bought a new position in shares of Polaris during the 3rd quarter worth $46,000. 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.