Polaris Industries Inc. (PII) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Polaris Industries Inc. (NYSE:PII) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $102.00 price target on the stock.
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. “
PII has been the subject of a number of other reports. BidaskClub raised shares of Polaris Industries from a hold rating to a buy rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a hold rating and issued a $79.00 price objective on shares of Polaris Industries in a research note on Friday, June 9th. Northcoast Research reaffirmed a hold rating on shares of Polaris Industries in a research note on Monday, March 27th. Wedbush reaffirmed a neutral rating and issued a $75.00 price objective on shares of Polaris Industries in a research note on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $100.00 price objective on shares of Polaris Industries in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. Polaris Industries presently has an average rating of Hold and an average price target of $86.80.
Shares of Polaris Industries (PII) traded down 2.18% on Wednesday, reaching $94.33. 1,167,028 shares of the company were exchanged. Polaris Industries has a 52 week low of $70.14 and a 52 week high of $99.16. The company’s 50-day moving average is $89.13 and its 200-day moving average is $86.39. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 37.43 and a beta of 1.32. Polaris Industries also saw unusually large options trading activity on Wednesday. Stock traders acquired 9,865 put options on the company. This is an increase of 646% compared to the average daily volume of 1,322 put options.
Polaris Industries (NYSE:PII) last released its quarterly earnings data on Thursday, July 20th. The company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.08. Polaris Industries had a net margin of 3.13% and a return on equity of 26.47%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the firm earned $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 expect that Polaris Industries will post $4.44 EPS for the current fiscal year.
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In other Polaris Industries news, Director Gwenne A. Henricks purchased 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were bought at an average price of $92.27 per share, for a total transaction of $110,724.00. Following the acquisition, the director now owns 1,200 shares in the company, valued at $110,724. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael T. Speetzen sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $84.07, for a total transaction of $420,350.00. Following the completion of the transaction, the executive vice president now owns 10,333 shares in the company, valued at approximately $868,695.31. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the company. GW&K Investment Management LLC purchased a new stake in shares of Polaris Industries during the first quarter worth approximately $11,529,000. Sheets Smith Wealth Management purchased a new stake in shares of Polaris Industries during the first quarter worth approximately $204,000. Raymond James Trust N.A. boosted its stake in shares of Polaris Industries by 25.7% in the first quarter. Raymond James Trust N.A. now owns 7,080 shares of the company’s stock worth $593,000 after buying an additional 1,447 shares during the last quarter. Confluence Investment Management LLC boosted its stake in shares of Polaris Industries by 444.9% in the first quarter. Confluence Investment Management LLC now owns 730,568 shares of the company’s stock worth $61,222,000 after buying an additional 596,497 shares during the last quarter. Finally, CENTRAL TRUST Co boosted its stake in shares of Polaris Industries by 0.7% in the first quarter. CENTRAL TRUST Co now owns 3,793 shares of the company’s stock worth $318,000 after buying an additional 25 shares during the last quarter. 93.85% of the stock is currently owned by institutional investors and hedge funds.
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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