Polaris (NYSE:PII) Price Target Lowered to $92.00 at Truist Financial

Polaris (NYSE:PII) had its price objective cut by equities research analysts at Truist Financial from $96.00 to $92.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 6.43% from the stock’s current price.

A number of other analysts also recently weighed in on PII. Longbow Research raised shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Monday, April 8th. Morgan Stanley raised shares of Polaris from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $103.00 to $113.00 in a report on Wednesday, January 17th. Robert W. Baird reduced their price target on shares of Polaris from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday. Bank of America initiated coverage on shares of Polaris in a report on Wednesday, April 3rd. They issued a “neutral” rating and a $110.00 price target for the company. Finally, Royal Bank of Canada increased their price target on shares of Polaris from $100.00 to $103.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.09.

Polaris Price Performance

NYSE PII opened at $86.44 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.46 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $92.93 and a 200 day simple moving average of $91.69. The company has a market cap of $4.88 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.39 and a beta of 1.60. Polaris has a 1 year low of $82.00 and a 1 year high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.17. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Polaris had a net margin of 5.63% and a return on equity of 40.98%. Polaris’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. On average, sell-side analysts predict that Polaris will post 7.97 EPS for the current year.

Hedge Funds Weigh In On Polaris

Hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its position in shares of Polaris by 2.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 15,300 shares of the company’s stock worth $1,532,000 after purchasing an additional 400 shares in the last quarter. Amalgamated Bank increased its position in shares of Polaris by 7.4% during the 1st quarter. Amalgamated Bank now owns 36,431 shares of the company’s stock worth $3,647,000 after purchasing an additional 2,505 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Polaris by 3.3% during the 1st quarter. Fifth Third Bancorp now owns 3,770 shares of the company’s stock worth $377,000 after purchasing an additional 122 shares in the last quarter. Hunter Perkins Capital Management LLC acquired a new stake in shares of Polaris during the 1st quarter worth about $6,246,000. Finally, Raymond James & Associates increased its position in shares of Polaris by 6.8% during the 1st quarter. Raymond James & Associates now owns 405,105 shares of the company’s stock worth $40,559,000 after purchasing an additional 25,685 shares in the last quarter. Institutional investors and hedge funds 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.