Polaris Industries Inc. (PII) Upgraded to Buy at Zacks Investment Research
Polaris Industries Inc. (NYSE:PII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $120.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.75% from the company’s previous close.
According to Zacks, “Polaris Industries Inc. designs, engineers and manufactures snowmobiles, all terrain vehicles, motorcycles and personal watercraft and markets them, together with related replacement parts, garments and accessories through dealers and distributors. The company’s line of all terrain vehicles consist of fourteen models includes general purpose, sport and four-wheel drive utility models. The company produces a full line of snowmobiles, consisting of thirty-three models, ranging from utility and economy models to performance and competition models. “
Several other research firms also recently weighed in on PII. Stifel Nicolaus reiterated a “hold” rating and set a $87.00 target price (up from $86.00) on shares of Polaris Industries in a research report on Monday, July 24th. Northcoast Research restated a “hold” rating on shares of Polaris Industries in a report on Tuesday, September 5th. KeyCorp restated a “sector weight” rating on shares of Polaris Industries in a report on Thursday, August 31st. Royal Bank Of Canada restated a “hold” rating and issued a $79.00 price objective on shares of Polaris Industries in a report on Friday, June 9th. Finally, B. Riley restated a “neutral” rating and issued a $91.00 price objective on shares of Polaris Industries in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $91.54.
Shares of Polaris Industries (PII) opened at 107.38 on Friday. Polaris Industries has a 12 month low of $72.05 and a 12 month high of $108.45. The company’s 50 day moving average price is $94.27 and its 200-day moving average price is $88.72. The firm has a market capitalization of $6.72 billion, a P/E ratio of 44.91 and a beta of 1.30.
Polaris Industries (NYSE:PII) last released its earnings results on Thursday, July 20th. The company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts predict that Polaris Industries will post $4.48 earnings per share for the current fiscal year.
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In related news, CEO Scott W. Wine bought 1,293 shares of the stock in a transaction dated Friday, August 18th. The stock was acquired at an average price of $88.81 per share, for a total transaction of $114,831.33. Following the completion of the purchase, the chief executive officer now owns 317,000 shares in the company, valued at $28,152,770. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James P. Williams sold 5,250 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $93.24, for a total value of $489,510.00. Following the completion of the sale, the senior vice president now owns 19,914 shares of the company’s stock, valued at approximately $1,856,781.36. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of PII. Canada Pension Plan Investment Board grew its stake in shares of Polaris Industries by 63.3% in the first quarter. Canada Pension Plan Investment Board now owns 6,710 shares of the company’s stock valued at $562,000 after buying an additional 2,600 shares in the last quarter. World Asset Management Inc grew its stake in Polaris Industries by 13.7% during the 1st quarter. World Asset Management Inc now owns 4,556 shares of the company’s stock valued at $382,000 after purchasing an additional 549 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in Polaris Industries by 11.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 151,609 shares of the company’s stock valued at $12,705,000 after purchasing an additional 15,281 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Polaris Industries during the 1st quarter valued at approximately $1,367,000. Finally, TD Asset Management Inc. grew its stake in Polaris Industries by 8.6% during the 1st quarter. TD Asset Management Inc. now owns 4,297 shares of the company’s stock valued at $360,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.
Polaris Industries Company Profile
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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