StockNews.com assumed coverage on shares of Polaris (NYSE:PII – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating on the stock.
PII has been the subject of a number of other reports. Citigroup increased their price objective on Polaris from $105.00 to $115.00 and gave the stock a neutral rating in a report on Thursday, February 2nd. UBS Group lowered Polaris from a buy rating to a neutral rating and decreased their price objective for the stock from $165.00 to $112.00 in a report on Friday, January 27th. Jefferies Financial Group increased their price target on Polaris from $100.00 to $106.00 in a research note on Monday, December 5th. Northcoast Research lowered Polaris from a buy rating to a neutral rating in a research note on Friday, January 13th. Finally, MKM Partners assumed coverage on Polaris in a research note on Tuesday, November 29th. They set a neutral rating and a $117.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $113.56.
Polaris Stock Performance
Shares of PII stock opened at $106.03 on Thursday. Polaris has a 12-month low of $91.86 and a 12-month high of $123.87. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 14.14 and a beta of 1.61. The business has a 50 day simple moving average of $112.15 and a 200 day simple moving average of $107.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.19 and a quick ratio of 0.37.
Polaris Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Tuesday, February 28th. This is an increase from Polaris’s previous quarterly dividend of $0.64. Polaris’s dividend payout ratio is 34.67%.
In other news, SVP Dougherty Lucy Clark sold 10,626 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $115.00, for a total transaction of $1,221,990.00. Following the completion of the sale, the senior vice president now owns 12,282 shares in the company, valued at approximately $1,412,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.20% of the company’s stock.
Institutional Trading of Polaris
A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of Polaris by 47.8% in the second quarter. Quadrant Capital Group LLC now owns 306 shares of the company’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in shares of Polaris by 4.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,533 shares of the company’s stock valued at $256,000 after purchasing an additional 99 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Polaris by 0.6% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 16,206 shares of the company’s stock valued at $1,637,000 after purchasing an additional 104 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Polaris by 3.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,533 shares of the company’s stock valued at $357,000 after purchasing an additional 110 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Polaris by 64.8% in the fourth quarter. Dark Forest Capital Management LP now owns 290 shares of the company’s stock valued at $29,000 after purchasing an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.
Polaris Company Profile
Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.
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