Polaris (NYSE:PII) Upgraded to “Hold” at StockNews.com

Polaris (NYSE:PII) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Several other brokerages also recently commented on PII. 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. Robert W. Baird lowered their price objective on shares of Polaris from $84.00 to $72.00 and set an “outperform” rating for the company in a research note on Monday. DA Davidson dropped their target price on shares of Polaris from $87.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, KeyCorp reduced their price target on Polaris from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $86.00.

Polaris Trading Down 0.5 %

NYSE PII traded down $0.27 during trading on Monday, hitting $57.16. 1,005,732 shares of the company’s stock traded hands, compared to its average volume of 752,604. The stock has a fifty day moving average of $66.47 and a two-hundred day moving average of $75.78. Polaris has a 12-month low of $55.55 and a 12-month high of $100.91. The firm has a market cap of $3.19 billion, a P/E ratio of 15.97, a PEG ratio of 6.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.21 and a quick ratio of 0.32.

Polaris (NYSE:PII) last issued its earnings results on Tuesday, October 22nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.15). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Polaris had a net margin of 2.64% and a return on equity of 17.92%. The company’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.71 earnings per share. As a group, sell-side analysts expect that Polaris will post 3.22 EPS for the current year.

Institutional Trading of Polaris

A number of hedge funds and other institutional investors have recently modified their holdings of PII. Franklin Resources Inc. boosted its stake in Polaris by 12.2% during the third quarter. Franklin Resources Inc. now owns 169,004 shares of the company’s stock worth $13,745,000 after acquiring an additional 18,418 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Polaris in the 3rd quarter worth approximately $535,000. Toronto Dominion Bank boosted its position in shares of Polaris by 2.9% in the 3rd quarter. Toronto Dominion Bank now owns 16,484 shares of the company’s stock worth $1,372,000 after purchasing an additional 465 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Polaris in the 3rd quarter worth approximately $516,000. Finally, M&T Bank Corp increased its position in Polaris by 10.9% during the 3rd quarter. M&T Bank Corp now owns 3,141 shares of the company’s stock valued at $261,000 after buying an additional 309 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.