Polaris (NYSE:PII) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Polaris (NYSE:PII) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Polaris Inc. designs, engineers and manufactures off-road and on-road vehicles. The company’s operating segment consists of ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket and Boats. It markets its products under the RZR, RANGER, GENERAL, Sportsman, Polaris ACE, RANGER CREW, RZR XP, RZR RS1, Polaris Engineered Accessories, Polaris INDY EVO, 850 Patriot, Timbersled, FTR, GEM, Goupil, Aixam and Taylor-Dunn, DAGOR, Sportsman MV, MRZR, Pro Comp, Smittybilt, Rubicon Express, Poison Spyder, Trail Master, LRG, G2 Axle & Gear, Kolpin, Pro Armor, Klim, 509, Trail Tech, Bennington, Godfrey, Hurricane, Rinker, Larson and Striper brands. Polaris Inc., formerly known as Polaris Industries Inc., is based in Medina, Minnesota. “

A number of other analysts have also recently commented on PII. KeyCorp cut their price target on shares of Polaris from $155.00 to $145.00 and set an overweight rating on the stock in a research report on Monday, November 1st. Morgan Stanley cut their price target on shares of Polaris from $165.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, October 28th. Truist Securities cut their price target on shares of Polaris from $145.00 to $125.00 and set a hold rating on the stock in a research report on Wednesday, October 27th. Robert W. Baird cut their price objective on shares of Polaris from $160.00 to $150.00 and set an outperform rating on the stock in a research report on Wednesday, October 27th. Finally, Raymond James dropped their price target on shares of Polaris from $158.00 to $148.00 and set a strong-buy rating on the stock in a research report on Wednesday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Polaris has a consensus rating of Hold and a consensus price target of $143.60.

Shares of NYSE:PII opened at $118.86 on Tuesday. The company has a fifty day moving average of $114.06 and a 200-day moving average of $122.13. The company has a market capitalization of $7.21 billion, a PE ratio of 12.36 and a beta of 1.78. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.37 and a current ratio of 1.33. Polaris has a 52-week low of $100.52 and a 52-week high of $147.73.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 26th. The company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.02. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.13 billion. Polaris had a return on equity of 57.18% and a net margin of 7.40%. Polaris’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 earnings per share. On average, equities analysts forecast that Polaris will post 9.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Investors of record on Wednesday, December 1st were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Tuesday, November 30th. Polaris’s payout ratio is presently 26.20%.

In related news, CEO Michael T. Speetzen sold 24,500 shares of the business’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $125.00, for a total transaction of $3,062,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin M. Farr sold 10,169 shares of the company’s stock in a transaction that occurred on Thursday, October 28th. The stock was sold at an average price of $115.27, for a total transaction of $1,172,180.63. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP increased its stake in shares of Polaris by 115.7% in the first quarter. First Trust Advisors LP now owns 18,030 shares of the company’s stock worth $1,522,000 after purchasing an additional 9,673 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Polaris by 5.9% in the second quarter. HighTower Advisors LLC now owns 8,526 shares of the company’s stock worth $1,168,000 after purchasing an additional 476 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Polaris in the second quarter worth $540,000. Van ECK Associates Corp increased its stake in shares of Polaris by 13,165.5% in the second quarter. Van ECK Associates Corp now owns 686,492 shares of the company’s stock worth $94,022,000 after purchasing an additional 681,317 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Polaris by 4.6% in the second quarter. BNP Paribas Arbitrage SA now owns 45,235 shares of the company’s stock worth $6,195,000 after purchasing an additional 1,996 shares in the last quarter. 84.52% of the stock is owned by institutional investors and hedge funds.

Polaris Company Profile

Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments ORV, Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company was founded by Allen Hetteen, Edgar E. Hetteen, and David Johnson in 1954 and is headquartered in Medina, MN.

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