Polaris Industries Inc. (PII) Trading Up 8.7%
Polaris Industries Inc. (NYSE:PII) shares were up 8.7% on Wednesday . The company traded as high as $94.87 and last traded at $94.65, with a volume of 2,941,642 shares trading hands. The stock had previously closed at $87.10.
A number of research analysts have recently weighed in on PII shares. Citigroup Inc. lifted their price objective on Polaris Industries from $89.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, April 4th. Vetr raised Polaris Industries from a “hold” rating to a “buy” rating and set a $100.25 price objective on the stock in a research report on Monday, April 4th. Royal Bank Of Canada lowered their price objective on Polaris Industries from $97.00 to $84.00 and set a “sector perform” rating on the stock in a research report on Friday, July 1st. TheStreet raised Polaris Industries from a “hold” rating to a “buy” rating in a research report on Monday, March 28th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of Polaris Industries in a research report on Monday, June 20th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $94.94.
The company has a 50-day moving average price of $83.75 and a 200 day moving average price of $87.57. The company has a market capitalization of $6.14 billion and a PE ratio of 15.37.
Polaris Industries (NYSE:PII) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.06. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.10 billion. On average, equities analysts forecast that Polaris Industries Inc. will post $6.26 earnings per share for the current year.
In other Polaris Industries news, 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 value of $2,089,692.00. Following the completion of the sale, the insider now owns 21,405 shares of the company’s stock, valued at $2,119,095. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin M. Farr bought 2,100 shares of the stock in a transaction on Monday, May 23rd. The stock was purchased at an average cost of $83.15 per share, with a total value of $174,615.00. Following the purchase, the director now directly owns 2,100 shares of the company’s stock, valued at approximately $174,615. The disclosure for this purchase can be found here.
A number of large investors have recently modified their holdings of PII. Janus Capital Management increased its stake 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 valued at $183,369,000 after buying an additional 495,373 shares during the last quarter. Swiss National Bank increased its stake 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 valued at $9,790,000 after buying an additional 1,200 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Polaris Industries during the fourth quarter valued at approximately $1,516,000. Comerica Bank increased its stake in shares of Polaris Industries by 5.6% in the fourth quarter. Comerica Bank now owns 50,774 shares of the company’s stock valued at $4,082,000 after buying an additional 2,673 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Polaris Industries during the fourth quarter valued at approximately $2,545,000.
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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