Polaris Industries Inc. (NYSE:PII) gapped up before the market opened on Friday . The stock had previously closed at $82.51, but opened at $82.94. Polaris Industries shares last traded at $85.55, with a volume of 618,536 shares changing hands.

PII has been the subject of several analyst reports. Longbow Research downgraded shares of Polaris Industries from a “neutral” rating to an “underperform” rating and set a $70.00 price target for the company. in a research report on Friday, June 10th. Royal Bank Of Canada reduced their price target on shares of Polaris Industries from $97.00 to $84.00 and set a “sector perform” rating for the company in a research report on Friday, July 1st. Wells Fargo & Co. reissued a “hold” rating on shares of Polaris Industries in a research report on Monday, June 20th. Citigroup Inc. raised their price target on shares of Polaris Industries from $89.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, April 4th. Finally, Vetr raised shares of Polaris Industries from a “hold” rating to a “buy” rating and set a $100.25 price target for the company in a research report on Monday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Polaris Industries has an average rating of “Hold” and an average target price of $95.44.

The stock has a market cap of $5.51 billion and a P/E ratio of 13.79. The firm’s 50-day moving average price is $83.12 and its 200-day moving average price is $87.50.

Polaris Industries (NYSE:PII) last posted its earnings results on Thursday, April 21st. The company reported $0.71 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.71. The firm had revenue of $983 million for the quarter, compared to analysts’ expectations of $962.44 million. The company’s revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.30 EPS. On average, equities analysts expect that Polaris Industries Inc. will post $6.30 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.20 dividend on an annualized basis and a yield of 2.58%.

In related news, Director Kevin M. Farr purchased 2,100 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were acquired at an average price of $83.15 per share, for a total transaction of $174,615.00. Following the purchase, the director now owns 2,100 shares of the company’s stock, valued at approximately $174,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David C. Longren sold 21,108 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $99.00, for a total transaction of $2,089,692.00. Following the transaction, the insider now owns 21,405 shares in the company, valued at approximately $2,119,095. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Janus Capital Management raised its position in shares of Polaris Industries by 47.9% in the third quarter. Janus Capital Management now owns 1,529,699 shares of the company’s stock worth $183,369,000 after buying an additional 495,373 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Polaris Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 123,115 shares of the company’s stock worth $10,582,000 after buying an additional 1,936 shares during the last quarter. Korea Investment CORP raised its position in shares of Polaris Industries by 71.9% in the fourth quarter. Korea Investment CORP now owns 16,500 shares of the company’s stock worth $1,418,000 after buying an additional 6,900 shares during the last quarter. Swiss National Bank raised its position in shares of Polaris Industries by 1.1% in the fourth quarter. Swiss National Bank now owns 113,900 shares of the company’s stock worth $9,790,000 after buying an additional 1,200 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Polaris Industries by 1,661.9% in the fourth quarter. Sei Investments Co. now owns 82,456 shares of the company’s stock worth $7,088,000 after buying an additional 77,776 shares during the last quarter.

Polaris Industries Inc (Polaris) designs, engineers and manufactures 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, together with the related parts, garments and accessories.

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