Polaris (NYSE:PII) Price Target Raised to $56.00

Key Points

• Royal Bank of Canada raised its target price for Polaris from $34.00 to $56.00, indicating a potential upside of 0.52% based on the stock's previous close.
• Analysts show mixed sentiments; while Royal Bank rates Polaris as "sector perform," other firms have downgraded the stock, with an overall average rating of "Hold" and a consensus price target of $48.17.
• Polaris recently reported a quarterly EPS of $0.40, exceeding estimates, but its revenue decreased by 5.5% year-over-year, totaling $1.85 billion for the quarter.

Polaris (NYSE:PII - Get Free Report) had its price objective lifted by analysts at Royal Bank Of Canada from $34.00 to $56.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 12.97% from the company's current price.

Other equities analysts also recently issued reports about the company. Citigroup reissued a "sell" rating and set a $27.00 target price (up from $23.00) on shares of Polaris in a research note on Monday, June 16th. Truist Financial dropped their price objective on Polaris from $55.00 to $30.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Robert W. Baird raised their price objective on Polaris from $46.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday. Wall Street Zen downgraded Polaris from a "hold" rating to a "sell" rating in a research note on Thursday, May 8th. Finally, Roth Capital raised their price objective on Polaris from $32.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $48.33.

Polaris Stock Performance

Shares of PII stock traded down $3.34 during trading hours on Wednesday, reaching $49.57. 2,201,354 shares of the company's stock were exchanged, compared to its average volume of 1,642,595. The company has a market cap of $2.79 billion, a P/E ratio of -26.37 and a beta of 1.04. The company's 50 day moving average is $44.54 and its two-hundred day moving average is $42.65. Polaris has a 1 year low of $30.92 and a 1 year high of $87.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.04 and a quick ratio of 0.37.

Polaris (NYSE:PII - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.35. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.73 billion. Polaris had a positive return on equity of 5.16% and a negative net margin of 1.57%. The company's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. Equities research analysts anticipate that Polaris will post 1.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Polaris

A number of large investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. boosted its holdings in Polaris by 1.1% in the fourth 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. Koss Olinger Consulting LLC boosted its holdings in Polaris by 0.8% in the second quarter. Koss Olinger Consulting LLC now owns 40,667 shares of the company's stock valued at $1,653,000 after acquiring an additional 304 shares during the last quarter. Fifth Third Bancorp raised its position in Polaris by 46.9% in the first quarter. Fifth Third Bancorp now owns 996 shares of the company's stock valued at $41,000 after purchasing an additional 318 shares during the period. Teacher Retirement System of Texas raised its position in Polaris by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 8,064 shares of the company's stock valued at $328,000 after purchasing an additional 318 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in Polaris by 5.0% in the first 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 during the period. Institutional investors and hedge funds 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.