Polaris (NYSE:PII) Sets New 12-Month High - Here's Why

Key Points

• Polaris shares reached a new 52-week high of $75.25 and last traded at $74.88, above the previous close of $73.04.
• Analyst sentiment remains cautious, with an average rating of “Hold” and an average price target of $65, below the stock’s recent trading level.
• Polaris beat quarterly earnings expectations, reporting $0.13 EPS versus the projected loss of $0.43 and revenue of $1.66 billion, while maintaining a quarterly dividend of $0.68 per share.

Polaris Inc. (NYSE:PII - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $75.25 and last traded at $74.88, with a volume of 57505 shares trading hands. The stock had previously closed at $73.04.

Analysts Set New Price Targets

Several analysts have commented on the stock. Roth Capital reaffirmed a "neutral" rating on shares of Polaris in a research note on Wednesday, April 29th. Raymond James Financial reissued an "outperform" rating on shares of Polaris in a research report on Wednesday, April 29th. Weiss Ratings reissued a "sell (d)" rating on shares of Polaris in a research report on Tuesday, July 7th. Morgan Stanley reduced their price target on shares of Polaris from $74.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 19th. Finally, Robert W. Baird lifted their price target on shares of Polaris from $67.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Polaris has an average rating of "Hold" and an average target price of $65.00.

Polaris Stock Performance

The company has a debt-to-equity ratio of 2.72, a current ratio of 1.21 and a quick ratio of 0.48. The stock has a fifty day moving average price of $68.66 and a two-hundred day moving average price of $64.23. The company has a market cap of $4.20 billion, a P/E ratio of -9.41 and a beta of 1.25.

Polaris (NYSE:PII - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.56. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.63 billion. Polaris had a positive return on equity of 5.91% and a negative net margin of 6.13%.The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.90) EPS. On average, equities analysts forecast that Polaris Inc. will post 1.76 earnings per share for the current fiscal year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.68 per share. The ex-dividend date was Monday, June 1st. This represents a $2.72 annualized dividend and a dividend yield of 3.7%. Polaris's dividend payout ratio (DPR) is -34.69%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Auto Owners Insurance Co raised its holdings in Polaris by 6,225.0% during the 4th quarter. Auto Owners Insurance Co now owns 65,463,750 shares of the company's stock worth $4,140,582,000 after buying an additional 64,428,750 shares during the period. State Street Corp increased its position in Polaris by 15.7% in the 2nd quarter. State Street Corp now owns 3,137,866 shares of the company's stock worth $127,554,000 after purchasing an additional 426,482 shares during the last quarter. AQR Capital Management LLC increased its holdings in Polaris by 30.1% in the third quarter. AQR Capital Management LLC now owns 2,281,101 shares of the company's stock worth $132,600,000 after buying an additional 528,300 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Polaris by 166.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,929,773 shares of the company's stock valued at $122,058,000 after purchasing an additional 1,204,405 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Polaris by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,546,260 shares of the company's stock valued at $84,269,000 after buying an additional 107,109 shares in the last quarter. Institutional investors own 88.06% of the company's stock.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company's legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.

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