Citigroup Cuts Polaris (NYSE:PII) Price Target to $67.00

Polaris (NYSE:PII) had its target price decreased by Citigroup from $73.00 to $67.00 in a research report report published on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts have also recently issued reports on the company. Roth Capital reissued a “neutral” rating on shares of Polaris in a research note on Wednesday, July 29th. Robert W. Baird boosted their price target on Polaris from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley lowered their price target on Polaris from $74.00 to $69.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 19th. KeyCorp reiterated a “sector weight” rating on shares of Polaris in a report on Wednesday, July 29th. Finally, Bank of America reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Polaris presently has a consensus rating of “Hold” and an average target price of $67.38.

Polaris Trading Up 1.0%

NYSE:PII opened at $58.49 on Wednesday. The firm has a market capitalization of $3.33 billion, a P/E ratio of -12.63 and a beta of 1.27. The company has a quick ratio of 0.47, a current ratio of 1.20 and a debt-to-equity ratio of 2.28. The company has a fifty day moving average of $67.21 and a 200 day moving average of $63.75. Polaris has a 52 week low of $47.14 and a 52 week high of $77.98.

Polaris (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $1.21. Polaris had a negative net margin of 3.50% and a positive return on equity of 16.77%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.95 billion. During the same quarter last year, the firm earned ($1.39) EPS. The company’s revenue was up 9.2% on a year-over-year basis. Polaris has set its FY 2026 guidance at 3.000-3.100 EPS. On average, research analysts predict that Polaris will post 3.22 earnings per share for the current year.

Polaris Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.68 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.72 annualized dividend and a yield of 4.7%. Polaris’s dividend payout ratio (DPR) is currently -58.75%.

Institutional Trading of Polaris

Hedge funds and other institutional investors have recently modified their holdings of the business. Auto Owners Insurance Co lifted its position in Polaris by 6,225.0% during the 4th quarter. Auto Owners Insurance Co now owns 65,463,750 shares of the company’s stock valued at $4,140,582,000 after acquiring an additional 64,428,750 shares during the period. BlackRock Inc. purchased a new stake in Polaris in the second quarter worth about $501,360,000. California State Teachers Retirement System increased its stake in shares of Polaris by 6,615.7% during the second quarter. California State Teachers Retirement System now owns 4,233,151 shares of the company’s stock valued at $289,717,000 after purchasing an additional 4,170,117 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Polaris by 564.8% during the second quarter. AQR Capital Management LLC now owns 1,752,801 shares of the company’s stock valued at $70,673,000 after purchasing an additional 1,489,157 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Polaris during the fourth quarter valued at approximately $81,447,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

About Polaris

Polaris Inc is a powersports manufacturer headquartered in Medina, Minnesota. Founded in 1954 in Roseau, Minnesota, the company initially focused on snowmobiles and has since expanded into a broad range of recreational and utility vehicles.

Polaris develops and sells off-road vehicles, including all-terrain vehicles and side-by-side models for recreational, agricultural, commercial, and government applications. Its product portfolio includes the RZR, Ranger, General, and Sportsman lines, as well as snowmobiles, motorcycles, and three-wheeled roadsters sold under the Indian Motorcycle and Slingshot brands.