Polaris Industries (NYSE:PII) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The brokerage currently has a $148.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 9.87% from the stock’s previous close.
According to Zacks, “Polaris Industries Inc. is a global power sports leader that has been fueling the passion of riders, workers and outdoor enthusiasts for years. With annual 2016 sales of $4.5 billion, Polaris’ innovative, high-quality product line-up includes the RANGER, RZR and Polaris GENERAL side-by-side off-road vehicles; the Sportsman and Polaris ACE all-terrain off-road vehicles; Indian Motorcycle midsize and heavyweight motorcycles; Slingshot moto-roadsters; and Polaris RMK, INDY, Switchback and RUSH snowmobiles. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets globally includes military and commercial off-road vehicles, quadricycles, and electric vehicles. “
PII has been the topic of several other research reports. KeyCorp restated a “hold” rating on shares of Polaris Industries in a research report on Wednesday, October 4th. Northcoast Research restated a “neutral” rating on shares of Polaris Industries in a research report on Friday, October 6th. Royal Bank of Canada restated a “sell” rating and set a $81.00 price objective on shares of Polaris Industries in a research report on Friday, October 13th. BMO Capital Markets cut shares of Polaris Industries from an “outperform” rating to a “market perform” rating and set a $115.00 price objective on the stock. in a research report on Wednesday, October 25th. Finally, Wedbush raised their price objective on shares of Polaris Industries from $112.00 to $119.00 and gave the company a “neutral” rating in a research report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.06.
Polaris Industries (NYSE:PII) last posted its quarterly earnings data on Tuesday, October 24th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.24. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Polaris Industries had a net margin of 3.90% and a return on equity of 33.81%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the company posted $0.50 EPS. sell-side analysts expect that Polaris Industries will post 4.85 earnings per share for the current year.
In related news, insider Stephen L. Eastman sold 8,500 shares of Polaris Industries stock in a transaction on Monday, October 30th. The shares were sold at an average price of $119.25, for a total value of $1,013,625.00. Following the transaction, the insider now owns 18,846 shares in the company, valued at approximately $2,247,385.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen L. Eastman sold 1,500 shares of Polaris Industries stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $127.72, for a total transaction of $191,580.00. Following the completion of the transaction, the insider now owns 8,846 shares in the company, valued at approximately $1,129,811.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,102 shares of company stock worth $7,174,301. 2.20% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Polaris Industries in the fourth quarter valued at about $1,201,000. GW&K Investment Management LLC increased its position in shares of Polaris Industries by 0.5% in the fourth quarter. GW&K Investment Management LLC now owns 173,820 shares of the company’s stock valued at $21,552,000 after acquiring an additional 924 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Polaris Industries in the fourth quarter valued at about $533,000. CAPROCK Group Inc. increased its position in shares of Polaris Industries by 37.0% in the fourth quarter. CAPROCK Group Inc. now owns 5,944 shares of the company’s stock valued at $773,000 after acquiring an additional 1,604 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Polaris Industries by 13.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 349,457 shares of the company’s stock valued at $43,330,000 after acquiring an additional 42,094 shares during the period. Hedge funds and other institutional investors own 90.91% 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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