Polaris (NYSE:PII) Upgraded at StockNews.com

StockNews.com upgraded shares of Polaris (NYSE:PII) from a hold rating to a buy rating in a research note published on Wednesday.

Several other analysts also recently commented on PII. KeyCorp reduced their price objective on Polaris from $115.00 to $105.00 and set an overweight rating for the company in a research note on Friday, January 12th. Citigroup reduced their price objective on Polaris from $100.00 to $96.00 and set a neutral rating for the company in a research note on Wednesday. Bank of America initiated coverage on Polaris in a research report on Wednesday, April 3rd. They set a neutral rating and a $110.00 target price on the stock. Robert W. Baird dropped their target price on Polaris from $110.00 to $100.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, Longbow Research upgraded Polaris from a neutral rating to a buy rating and set a $120.00 target price on the stock in a research report on Monday, April 8th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Polaris currently has a consensus rating of Hold and an average price target of $100.27.

Polaris Stock Up 0.6 %

PII opened at $83.79 on Wednesday. The business has a 50 day moving average price of $92.56 and a two-hundred day moving average price of $91.51. The company has a quick ratio of 0.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.46. The company has a market cap of $4.73 billion, a PE ratio of 12.29, a P/E/G ratio of 2.50 and a beta of 1.60. Polaris has a 52 week low of $82.00 and a 52 week high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.06 by $0.17. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. As a group, research analysts anticipate that Polaris will post 7.93 EPS for the current year.

Polaris Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.66 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.15%. This is a boost from Polaris’s previous quarterly dividend of $0.65. Polaris’s dividend payout ratio is currently 38.71%.

Institutional Investors Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of PII. Confluence Investment Management LLC acquired a new stake in shares of Polaris in the 1st quarter worth approximately $108,890,000. Verity & Verity LLC acquired a new stake in shares of Polaris in the 1st quarter worth approximately $37,000. Qube Research & Technologies Ltd grew its holdings in Polaris by 276.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 363,409 shares of the company’s stock valued at $37,845,000 after buying an additional 266,887 shares during the last quarter. AQR Capital Management LLC grew its holdings in Polaris by 151.9% during the 3rd quarter. AQR Capital Management LLC now owns 424,118 shares of the company’s stock valued at $44,168,000 after buying an additional 255,777 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Polaris by 8.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after buying an additional 202,794 shares during the last quarter. 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.