Polaris (NYSE:PII) Stock Price Up 8.6% - Should You Buy?

Polaris Inc. (NYSE:PII - Get Free Report)'s stock price rose 8.6% during trading on Tuesday . The stock traded as high as $50.88 and last traded at $51.14. Approximately 843,262 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 1,276,233 shares. The stock had previously closed at $47.07.

Analyst Ratings Changes

Several research firms have commented on PII. Wall Street Zen cut shares of Polaris from a "hold" rating to a "sell" rating in a research report on Thursday, May 8th. Roth Capital lifted their price target on Polaris from $32.00 to $41.00 and gave the stock a "neutral" rating in a report on Wednesday. Morgan Stanley decreased their target price on Polaris from $31.00 to $29.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Truist Financial lowered their target price on Polaris from $55.00 to $30.00 and set a "hold" rating on the stock in a research note on Monday, April 14th. Finally, Royal Bank Of Canada reduced their price target on shares of Polaris from $54.00 to $34.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $45.58.

Polaris Stock Up 1.2%

The stock has a 50-day moving average of $43.20 and a 200-day moving average of $42.84. The company has a market cap of $2.82 billion, a PE ratio of 69.75 and a beta of 1.05. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 1.32.

Polaris (NYSE:PII - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.01. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. Polaris had a return on equity of 9.26% and a net margin of 0.58%. Polaris's revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Sell-side analysts predict that Polaris Inc. will post 1.11 earnings per share for the current fiscal year.

Polaris Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date was Monday, June 2nd. Polaris's payout ratio is 372.22%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PII. TD Waterhouse Canada Inc. boosted its position in shares of Polaris by 1.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 22,484 shares of the company's stock valued at $1,295,000 after acquiring an additional 241 shares during the last quarter. Xponance Inc. increased its position in shares of Polaris by 5.1% during the fourth quarter. Xponance Inc. now owns 5,956 shares of the company's stock worth $343,000 after acquiring an additional 288 shares during the period. Fifth Third Bancorp boosted 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. Commonwealth Equity Services LLC grew its holdings in Polaris by 1.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 24,904 shares of the company's stock worth $1,435,000 after acquiring an additional 341 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Polaris by 5.0% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 7,984 shares of the company's stock valued at $327,000 after purchasing an additional 379 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.