Polaris (NYSE:PII) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Polaris was upgraded from a "strong sell" to a "hold" rating by Wall Street Zen, while other analysts maintain mixed ratings with a consensus target price of $48.33.
• Shares of Polaris are currently down 6.3%, with a market capitalization of $2.79 billion and a notable price-to-earnings ratio of -26.37.
• Polaris reported quarterly earnings of $0.40 EPS, exceeding analyst expectations, although revenue was down 5.5% year-over-year at $1.85 billion.

Polaris (NYSE:PII - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "hold" rating in a research report issued on Saturday.

Other research analysts have also issued reports about the stock. Baird R W lowered shares of Polaris from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Morgan Stanley dropped their target price on shares of Polaris from $31.00 to $29.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Roth Capital boosted their price target on shares of Polaris from $32.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on shares of Polaris from $46.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Citigroup reissued a "sell" rating and issued a $27.00 target price (up from $23.00) on shares of Polaris in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $48.33.

Polaris Price Performance

Shares of PII traded down $0.28 during mid-day trading on Friday, reaching $52.64. 392,167 shares of the company's stock were exchanged, compared to its average volume of 1,737,355. The company has a quick ratio of 0.37, a current ratio of 1.04 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $45.05 and a two-hundred day simple moving average of $42.59. Polaris has a 52-week low of $30.92 and a 52-week high of $87.83. The company has a market cap of $2.96 billion, a price-to-earnings ratio of -27.97 and a beta of 1.04.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.35. Polaris had a negative net margin of 1.57% and a positive return on equity of 5.16%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $1.38 EPS. Polaris's revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Polaris will post 1.11 EPS for the current fiscal year.

Institutional Trading of Polaris

Several hedge funds have recently bought and sold shares of the business. Sei Investments Co. grew its holdings in Polaris by 52.2% during the 4th quarter. Sei Investments Co. now owns 13,690 shares of the company's stock valued at $789,000 after buying an additional 4,694 shares in the last quarter. Norges Bank purchased a new stake in shares of Polaris in the 4th quarter worth about $24,659,000. Pictet Asset Management Holding SA lifted its position in shares of Polaris by 17.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,278 shares of the company's stock worth $477,000 after purchasing an additional 1,241 shares during the period. National Bank of Canada FI lifted its position in Polaris by 4,484.5% during the 4th quarter. National Bank of Canada FI now owns 50,475 shares of the company's stock valued at $2,908,000 after acquiring an additional 49,374 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in Polaris during the 4th quarter valued at about $395,000. Institutional investors and hedge funds own 88.06% of the company's stock.

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.