Truist Financial Issues Pessimistic Forecast for Polaris (NYSE:PII) Stock Price

Polaris (NYSE:PII - Free Report) had its target price trimmed by Truist Financial from $55.00 to $30.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also issued reports on PII. Citigroup lowered shares of Polaris from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $49.00 to $33.00 in a research report on Thursday, March 20th. KeyCorp downgraded shares of Polaris from an "overweight" rating to a "sector weight" rating in a research note on Wednesday, January 8th. Robert W. Baird downgraded Polaris from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $56.00 to $40.00 in a research report on Friday, April 4th. StockNews.com cut Polaris from a "hold" rating to a "sell" rating in a research report on Wednesday, January 8th. Finally, Bank of America decreased their target price on Polaris from $55.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.64.

Polaris Stock Up 2.3 %

PII traded up $0.73 during trading hours on Monday, hitting $33.09. 1,575,223 shares of the company's stock were exchanged, compared to its average volume of 1,080,484. The company has a quick ratio of 0.39, a current ratio of 1.15 and a debt-to-equity ratio of 1.27. Polaris has a 1-year low of $30.92 and a 1-year high of $90.62. The stock's 50-day moving average is $41.18 and its two-hundred day moving average is $56.04. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 13.95 and a beta of 1.32.

Polaris (NYSE:PII - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. Polaris had a return on equity of 13.78% and a net margin of 1.54%. Sell-side analysts predict that Polaris will post 1.11 earnings per share for the current fiscal year.

Polaris Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 8.10%. This is an increase from Polaris's previous quarterly dividend of $0.66. The ex-dividend date was Monday, March 3rd. Polaris's dividend payout ratio (DPR) is presently 136.73%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Robertson Stephens Wealth Management LLC grew its position in Polaris by 41.6% during the first quarter. Robertson Stephens Wealth Management LLC now owns 12,038 shares of the company's stock valued at $493,000 after buying an additional 3,538 shares during the period. RWWM Inc. increased its stake in shares of Polaris by 169.2% during the 1st quarter. RWWM Inc. now owns 2,395,049 shares of the company's stock worth $98,053,000 after purchasing an additional 1,505,351 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Polaris in the 1st quarter worth approximately $35,000. Wealth Enhancement Advisory Services LLC grew its holdings in Polaris by 162.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,423 shares of the company's stock valued at $427,000 after purchasing an additional 6,453 shares during the period. Finally, Fifth Third Bancorp increased its position in Polaris by 46.9% in the first quarter. Fifth Third Bancorp now owns 996 shares of the company's stock worth $41,000 after buying an additional 318 shares during the last quarter. 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.