Polaris (NYSE:PII) Stock Rating Upgraded by Longbow Research

Longbow Research upgraded shares of Polaris (NYSE:PII - Free Report) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat reports. They currently have $120.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. DA Davidson reaffirmed a neutral rating and set a $80.00 price objective on shares of Polaris in a research report on Tuesday, March 5th. Royal Bank of Canada upped their target price on Polaris from $100.00 to $103.00 and gave the stock a sector perform rating in a report on Wednesday, January 31st. BMO Capital Markets decreased their price objective on Polaris from $100.00 to $95.00 and set a market perform rating for the company in a research note on Wednesday, January 31st. Bank of America started coverage on Polaris in a research note on Wednesday, April 3rd. They set a neutral rating and a $110.00 price objective for the company. Finally, Truist Financial reduced their target price on Polaris from $100.00 to $96.00 and set a hold rating on the stock in a research report on Wednesday, January 31st. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $104.73.

Polaris Price Performance

PII traded up $0.26 during midday trading on Monday, hitting $97.53. The stock had a trading volume of 464,312 shares, compared to its average volume of 672,700. The company has a market cap of $5.51 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 2.64 and a beta of 1.60. The business has a fifty day moving average of $92.99 and a 200 day moving average of $92.53. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.46 and a current ratio of 1.39. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49.

Polaris (NYSE:PII - Get Free Report) last announced its earnings results on Tuesday, January 30th. The company reported $1.98 EPS for the quarter, missing analysts' consensus estimates of $2.67 by ($0.69). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. Polaris's revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.46 EPS. As a group, equities analysts forecast that Polaris will post 7.95 earnings per share for the current fiscal year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.66 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Polaris's previous quarterly dividend of $0.65. Polaris's dividend payout ratio is currently 30.34%.

Institutional Investors Weigh In On Polaris

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its holdings in shares of Polaris by 2.4% during the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company's stock worth $640,447,000 after buying an additional 160,918 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Polaris by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company's stock worth $562,950,000 after acquiring an additional 89,717 shares during the last quarter. BlackRock Inc. lifted its holdings in Polaris by 0.4% in the first quarter. BlackRock Inc. now owns 4,868,936 shares of the company's stock worth $538,650,000 after acquiring an additional 17,165 shares during the last quarter. State Street Corp lifted its holdings in Polaris by 14.8% in the first quarter. State Street Corp now owns 4,136,582 shares of the company's stock worth $435,665,000 after acquiring an additional 532,947 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Polaris by 8.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company's stock valued at $257,993,000 after buying an additional 202,794 shares during 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.