Raymond James & Associates reduced its stake in Polaris Industries Inc. (NYSE:PII) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 254,231 shares of the company’s stock after selling 10,954 shares during the period. Raymond James & Associates owned 0.42% of Polaris Industries worth $23,528,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of PII. First Trust Advisors LP lifted its stake in shares of Polaris Industries by 115.7% in the 1st quarter. First Trust Advisors LP now owns 18,030 shares of the company’s stock worth $1,522,000 after acquiring an additional 9,673 shares during the period. Standard Life Aberdeen plc lifted its stake in shares of Polaris Industries by 9.9% in the 4th quarter. Standard Life Aberdeen plc now owns 8,579 shares of the company’s stock worth $872,000 after acquiring an additional 774 shares during the period. Geode Capital Management LLC lifted its stake in shares of Polaris Industries by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 615,483 shares of the company’s stock worth $62,537,000 after acquiring an additional 17,537 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Polaris Industries in the 4th quarter worth approximately $5,797,000. Finally, Verus Capital Partners LLC acquired a new stake in shares of Polaris Industries in the 4th quarter worth approximately $86,000. 74.02% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on PII shares. Stifel Nicolaus upped their price target on shares of Polaris Industries from $67.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday. Robert W. Baird boosted their target price on shares of Polaris Industries from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wolfe Research began coverage on shares of Polaris Industries in a report on Friday, April 17th. They issued an “outperform” rating and a $65.00 target price on the stock. Wedbush boosted their target price on shares of Polaris Industries from $106.00 to $116.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Raymond James boosted their target price on shares of Polaris Industries from $114.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $97.69.
PII stock opened at $103.63 on Friday. Polaris Industries Inc. has a 52-week low of $37.35 and a 52-week high of $108.98. The company’s 50 day simple moving average is $95.12 and its 200-day simple moving average is $81.01. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.99 and a quick ratio of 0.50. The firm has a market capitalization of $6.39 billion, a P/E ratio of 20.72 and a beta of 2.13.
Polaris Industries (NYSE:PII) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.70. Polaris Industries had a negative net margin of 0.83% and a positive return on equity of 32.38%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The firm’s revenue was down 15.1% compared to the same quarter last year. Sell-side analysts predict that Polaris Industries Inc. will post 6.58 EPS for the current fiscal year.
In other news, SVP Christopher Musso sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the sale, the senior vice president now owns 28,367 shares in the company, valued at $2,694,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.
Polaris Industries Company Profile
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.
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