Traders Purchase Large Volume of Put Options on Polaris (NYSE:PII)

Posted by Defense World Staff on Jun 6th, 2023

Polaris Inc. (NYSE:PII – Get Rating) was the recipient of some unusual options trading activity on Monday. Investors bought 2,343 put options on the stock. This represents an increase of 254% compared to the typical daily volume of 661 put options.

Hedge Funds Weigh In On Polaris

Several hedge funds have recently bought and sold shares of PII. Standard Family Office LLC bought a new position in shares of Polaris in the third quarter worth about $26,000. Larson Financial Group LLC purchased a new position in shares of Polaris during the fourth quarter worth approximately $28,000. Vigilant Capital Management LLC bought a new stake in shares of Polaris during the first quarter valued at approximately $28,000. Dark Forest Capital Management LP boosted its holdings in shares of Polaris by 64.8% in the fourth quarter. Dark Forest Capital Management LP now owns 290 shares of the company’s stock valued at $29,000 after purchasing an additional 114 shares during the period. Finally, Money Concepts Capital Corp grew its stake in Polaris by 89.1% in the fourth quarter. Money Concepts Capital Corp now owns 312 shares of the company’s stock worth $32,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

PII has been the subject of several recent analyst reports. KeyCorp assumed coverage on shares of Polaris in a report on Wednesday, April 19th. They issued an “overweight” rating and a $125.00 target price for the company. Royal Bank of Canada boosted their price target on Polaris from $108.00 to $115.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 21st. Truist Financial reduced their price objective on shares of Polaris from $105.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, April 5th. Roth Capital restated a “neutral” rating on shares of Polaris in a research report on Tuesday, April 25th. Finally, StockNews.com assumed coverage on shares of Polaris in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Polaris has a consensus rating of “Hold” and a consensus target price of $114.27.

Polaris Stock Performance

NYSE:PII opened at $112.05 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.37 and a current ratio of 1.21. The stock’s fifty day moving average is $107.25 and its 200 day moving average is $108.75. The firm has a market capitalization of $6.38 billion, a PE ratio of 13.48 and a beta of 1.60. Polaris has a fifty-two week low of $91.86 and a fifty-two week high of $123.87.

Polaris (NYSE:PII – Get Rating) last released its earnings results on Tuesday, April 25th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.32. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.96 billion. Polaris had a net margin of 5.46% and a return on equity of 60.97%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the business earned $1.29 EPS. On average, sell-side analysts anticipate that Polaris will post 10.19 earnings per share for the current year.

Polaris Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Wednesday, May 31st. Polaris’s payout ratio is currently 31.29%.

Polaris Company Profile

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Polaris Inc engages in designing, engineering, and manufacturing power sports vehicles. It operates through the following segments: Off-Road, On-Road, and Marine. The Off-Road segment includes off-road vehicles (ORV) and snowmobiles. The On Road segment is involved in the design and manufacture of motorcycles, moto-roadsters, light duty hauling, and passenger vehicles.