Robert W. Baird Lowers Polaris Industries Inc. (PII) to Neutral
Polaris Industries Inc. (NYSE:PII) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $96.00 target price on the stock, up from their prior target price of $88.00. Robert W. Baird’s target price indicates a potential upside of 1.77% from the company’s current price.
PII has been the subject of a number of other reports. Wedbush reissued a “neutral” rating and issued a $75.00 price objective on shares of Polaris Industries in a report on Tuesday, June 6th. BMO Capital Markets reissued a “buy” rating and issued a $100.00 price objective on shares of Polaris Industries in a report on Thursday, April 27th. Northcoast Research reissued a “hold” rating on shares of Polaris Industries in a report on Monday, March 27th. BidaskClub lowered Polaris Industries from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Stifel Nicolaus increased their price objective on Polaris Industries from $82.00 to $86.00 and gave the stock a “hold” rating in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.80.
Polaris Industries (NYSE:PII) traded down 2.18% on Friday, reaching $94.33. The company had a trading volume of 1,167,028 shares. The firm has a market capitalization of $5.94 billion, a PE ratio of 37.43 and a beta of 1.32. The stock has a 50 day moving average of $89.13 and a 200 day moving average of $86.39. Polaris Industries has a 12 month low of $70.14 and a 12 month high of $99.16. Polaris Industries also saw some unusual options trading on Wednesday. Traders bought 9,865 put options on the stock. This is an increase of 646% compared to the typical volume of 1,322 put options.
Polaris Industries (NYSE:PII) last posted its earnings results on Thursday, July 20th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.09 earnings per share. On average, analysts anticipate that Polaris Industries will post $4.44 EPS for the current year.
In other Polaris Industries news, EVP Michael T. Speetzen sold 5,000 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $84.07, for a total transaction of $420,350.00. Following the completion of the transaction, the executive vice president now directly owns 10,333 shares of the company’s stock, valued at approximately $868,695.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Matthew J. Homan sold 2,600 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $86.96, for a total value of $226,096.00. Following the transaction, the insider now directly owns 20,871 shares of the company’s stock, valued at $1,814,942.16. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in PII. BlackRock Inc. increased its stake in shares of Polaris Industries by 3,542.9% in the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock worth $449,135,000 after buying an additional 5,212,474 shares during the period. Kiltearn Partners LLP increased its stake in shares of Polaris Industries by 356.1% in the first quarter. Kiltearn Partners LLP now owns 1,741,176 shares of the company’s stock worth $145,911,000 after buying an additional 1,359,430 shares during the period. Cincinnati Financial Corp increased its stake in shares of Polaris Industries by 3,020.0% in the first quarter. Cincinnati Financial Corp now owns 780,000 shares of the company’s stock worth $65,364,000 after buying an additional 755,000 shares during the period. Janus Capital Management LLC increased its stake in shares of Polaris Industries by 36.6% in the first quarter. Janus Capital Management LLC now owns 2,344,287 shares of the company’s stock worth $196,447,000 after buying an additional 627,535 shares during the period. Finally, Confluence Investment Management LLC increased its stake in shares of Polaris Industries by 444.9% in the first quarter. Confluence Investment Management LLC now owns 730,568 shares of the company’s stock worth $61,222,000 after buying an additional 596,497 shares during the period. Institutional investors own 93.85% of the company’s stock.
About Polaris Industries
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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