Polaris (NYSE:PII) Price Target Cut to $57.00 by Analysts at Citigroup

Polaris (NYSE:PII) had its price objective cut by Citigroup from $73.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 5.94% from the company’s current price.

PII has been the topic of a number of other reports. Truist Financial decreased their target price on shares of Polaris from $76.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada decreased their target price on shares of Polaris from $82.00 to $73.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 23rd. DA Davidson decreased their target price on shares of Polaris from $84.00 to $69.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. KeyCorp lowered shares of Polaris from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 8th. Finally, Robert W. Baird decreased their target price on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating on the stock in a research note on Monday, December 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $73.45.

Polaris Trading Down 0.8 %

PII stock opened at $53.80 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.32 and a debt-to-equity ratio of 1.28. Polaris has a 12-month low of $52.62 and a 12-month high of $100.91. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 6.05 and a beta of 1.53. The business’s 50-day moving average is $60.62 and its 200 day moving average is $72.86.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.15). Polaris had a return on equity of 17.92% and a net margin of 2.64%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company’s quarterly revenue was down 23.4% on a year-over-year basis. On average, sell-side analysts anticipate that Polaris will post 3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC lifted its position in Polaris by 534.5% in the third quarter. Venturi Wealth Management LLC now owns 349 shares of the company’s stock valued at $29,000 after acquiring an additional 294 shares during the last quarter. Quarry LP lifted its position in Polaris by 187.4% in the third quarter. Quarry LP now owns 388 shares of the company’s stock valued at $32,000 after acquiring an additional 253 shares during the last quarter. Blue Trust Inc. lifted its position in Polaris by 2,431.3% in the third quarter. Blue Trust Inc. now owns 405 shares of the company’s stock valued at $32,000 after acquiring an additional 389 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Polaris in the second quarter valued at $57,000. Finally, GAMMA Investing LLC lifted its position in Polaris by 232.6% in the fourth quarter. GAMMA Investing LLC now owns 968 shares of the company’s stock valued at $56,000 after acquiring an additional 677 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.