StockNews.com assumed coverage on shares of Polaris (NYSE:PII – Free Report) in a report released on Thursday. The firm issued a hold rating on the stock.
PII has been the subject of a number of other research reports. Royal Bank of Canada lifted their price target on shares of Polaris from $115.00 to $121.00 in a research note on Wednesday, July 26th. Citigroup cut their target price on shares of Polaris from $138.00 to $110.00 and set a neutral rating on the stock in a research note on Tuesday, September 12th. KeyCorp lifted their price target on Polaris from $135.00 to $145.00 and gave the stock an overweight rating in a research note on Wednesday, July 26th. Truist Financial upped their price objective on Polaris from $100.00 to $125.00 and gave the company a hold rating in a research note on Wednesday, July 26th. Finally, BMO Capital Markets lifted their target price on Polaris from $110.00 to $130.00 and gave the stock a market perform rating in a research report on Wednesday, July 26th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Polaris presently has a consensus rating of Hold and a consensus target price of $120.25.
Read Our Latest Analysis on PII
Polaris Stock Up 0.3 %
Polaris (NYSE:PII – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The company reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.21. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.14 billion. Polaris had a net margin of 6.89% and a return on equity of 57.98%. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. As a group, sell-side analysts predict that Polaris will post 10.37 EPS for the current fiscal year.
Polaris Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Thursday, August 31st. Polaris’s payout ratio is 24.28%.
Insider Buying and Selling at Polaris
In other Polaris news, SVP Dougherty Lucy Clark sold 38,887 shares of Polaris stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $134.67, for a total transaction of $5,236,912.29. Following the sale, the senior vice president now owns 18,414 shares of the company’s stock, valued at approximately $2,479,813.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Polaris news, SVP Dougherty Lucy Clark sold 38,887 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $134.67, for a total transaction of $5,236,912.29. Following the sale, the senior vice president now directly owns 18,414 shares in the company, valued at approximately $2,479,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James P. Williams sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,820,000.00. Following the completion of the sale, the senior vice president now directly owns 16,001 shares of the company’s stock, valued at $2,080,130. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,464 shares of company stock worth $19,593,994. 2.75% of the stock is owned by company insiders.
Hedge Funds Weigh In On Polaris
Hedge funds have recently modified their holdings of the company. Vigilant Capital Management LLC acquired a new position in Polaris during the first quarter worth about $28,000. Farther Finance Advisors LLC grew its stake in shares of Polaris by 71.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 250 shares of the company’s stock worth $30,000 after purchasing an additional 104 shares during the last quarter. Money Concepts Capital Corp raised its holdings in shares of Polaris by 89.1% in the 4th 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. IFP Advisors Inc lifted its stake in Polaris by 30.4% during the second quarter. IFP Advisors Inc now owns 395 shares of the company’s stock valued at $33,000 after purchasing an additional 92 shares during the last quarter. Finally, Huntington National Bank boosted its holdings in Polaris by 526.0% during the second quarter. Huntington National Bank now owns 313 shares of the company’s stock worth $38,000 after buying an additional 263 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.
Polaris Company Profile
Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. 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; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.
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