Polaris Inc. (NYSE:PII) Short Interest Down 18.5% in April

Polaris Inc. (NYSE:PII) was the target of a significant decrease in short interest during the month of April. As of April 15th, there was short interest totalling 3,090,000 shares, a decrease of 18.5% from the March 31st total of 3,790,000 shares. Based on an average daily trading volume, of 694,200 shares, the days-to-cover ratio is currently 4.5 days. Approximately 5.8% of the company’s stock are sold short.

Polaris Stock Performance

Polaris stock traded up $3.04 during mid-day trading on Monday, hitting $86.85. The company had a trading volume of 1,002,015 shares, compared to its average volume of 719,229. The company has a current ratio of 1.47, a quick ratio of 0.42 and a debt-to-equity ratio of 1.46. Polaris has a 12-month low of $82.00 and a 12-month high of $138.49. The company’s fifty day moving average is $92.40 and its 200-day moving average is $91.30. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 2.44 and a beta of 1.60.

Polaris (NYSE:PII) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.06 by $0.17. Polaris had a return on equity of 31.39% and a net margin of 4.63%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. Equities research analysts predict that Polaris will post 8 EPS for the current year.

Polaris Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a dividend of $0.66 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.04%. Polaris’s dividend payout ratio (DPR) is 38.71%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its holdings in Polaris by 2.4% in the 4th quarter. Capital World Investors now owns 6,757,911 shares of the company’s stock valued at $640,447,000 after purchasing an additional 160,918 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Polaris by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,807,482 shares of the company’s stock valued at $550,375,000 after purchasing an additional 48,179 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Polaris by 8.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,477,363 shares of the company’s stock valued at $257,993,000 after purchasing an additional 202,794 shares in the last quarter. Confluence Investment Management LLC purchased a new position in Polaris in the 1st quarter valued at $108,890,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Polaris by 10.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 851,098 shares of the company’s stock valued at $80,663,000 after purchasing an additional 82,779 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PII shares. StockNews.com upgraded shares of Polaris from a “hold” rating to a “buy” rating in a report on Wednesday, April 24th. Truist Financial cut their price objective on shares of Polaris from $96.00 to $92.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Citigroup cut their price objective on shares of Polaris from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. KeyCorp cut their price objective on shares of Polaris from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, January 12th. Finally, Longbow Research upgraded shares of Polaris from a “neutral” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Monday, April 8th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.27.

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.