Polaris (NYSE:PII) Reaches New 12-Month High – Here’s What Happened

Polaris Inc. (NYSE:PII)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $75.25 and last traded at $74.88, with a volume of 57505 shares trading hands. The stock had previously closed at $73.04.

Wall Street Analysts Forecast Growth

PII has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Polaris in a report on Tuesday, July 7th. Robert W. Baird increased their target price on shares of Polaris from $67.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Citigroup lifted their price objective on Polaris from $58.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Raymond James Financial reiterated an “outperform” rating on shares of Polaris in a research report on Wednesday, April 29th. Finally, Roth Capital reiterated a “neutral” rating on shares of Polaris in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.00.

Polaris Trading Up 1.0%

The company has a debt-to-equity ratio of 2.72, a current ratio of 1.21 and a quick ratio of 0.48. The company has a market capitalization of $4.20 billion, a P/E ratio of -9.41 and a beta of 1.25. The business’s 50-day moving average price is $68.66 and its two-hundred day moving average price is $64.23.

Polaris (NYSE:PII) last released its quarterly earnings results on Monday, April 27th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.56. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.63 billion. Polaris had a positive return on equity of 5.91% and a negative net margin of 6.13%.Polaris’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.90) earnings per share. As a group, analysts forecast that Polaris Inc. will post 1.76 EPS for the current fiscal year.

Polaris Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, June 1st. Polaris’s dividend payout ratio is currently -34.69%.

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC increased its holdings in shares of Polaris by 471.0% in the second quarter. Elevation Wealth Partners LLC now owns 571 shares of the company’s stock valued at $39,000 after purchasing an additional 471 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Polaris in the 2nd quarter valued at $345,000. Versant Capital Management Inc grew its position in Polaris by 128.1% in the second quarter. Versant Capital Management Inc now owns 949 shares of the company’s stock valued at $65,000 after acquiring an additional 533 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Polaris by 12.5% in the 1st quarter. Pacer Advisors Inc. now owns 431,724 shares of the company’s stock valued at $23,529,000 after purchasing an additional 48,069 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Polaris by 42.6% in the 1st quarter. Empowered Funds LLC now owns 10,857 shares of the company’s stock worth $592,000 after purchasing an additional 3,242 shares in the last quarter. Institutional investors own 88.06% of the company’s stock.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.