Polaris (NYSE:PII) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Polaris (NYSE:PII) had its price target hoisted by investment analysts at Morgan Stanley from $72.00 to $81.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 14.85% from the stock’s previous close.

PII has been the topic of several other research reports. Seaport Res Ptn raised Polaris to a “strong-buy” rating in a research note on Thursday, January 8th. Royal Bank Of Canada lifted their price objective on shares of Polaris from $56.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. Citigroup boosted their price objective on shares of Polaris from $60.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $70.00 target price on shares of Polaris in a report on Wednesday, October 29th. Finally, Robert W. Baird upped their price objective on shares of Polaris from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.58.

Polaris Trading Down 0.4%

Shares of NYSE:PII traded down $0.26 during trading on Friday, hitting $70.53. 148,292 shares of the company’s stock were exchanged, compared to its average volume of 832,137. The company has a current ratio of 1.02, a quick ratio of 0.36 and a debt-to-equity ratio of 1.13. The firm has a market cap of $3.97 billion, a P/E ratio of -26.62, a PEG ratio of 2.31 and a beta of 1.14. The firm has a 50-day moving average price of $66.78 and a two-hundred day moving average price of $60.44. Polaris has a 1-year low of $30.92 and a 1-year high of $75.25.

Polaris (NYSE:PII) last announced its quarterly earnings data on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Equities analysts predict that Polaris will post 1.11 earnings per share for the current year.

Insider Activity

In related news, SVP James P. Williams sold 4,554 shares of Polaris stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $67.53, for a total value of $307,531.62. Following the sale, the senior vice president owned 43,878 shares of the company’s stock, valued at approximately $2,963,081.34. This trade represents a 9.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.12% of the company’s stock.

Hedge Funds Weigh In On Polaris

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in shares of Polaris by 677.2% during the first quarter. Goldman Sachs Group Inc. now owns 544,295 shares of the company’s stock worth $22,283,000 after purchasing an additional 474,259 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Polaris by 27.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 183,289 shares of the company’s stock valued at $7,504,000 after buying an additional 39,584 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Polaris during the 2nd quarter valued at approximately $465,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Polaris by 471.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 59,566 shares of the company’s stock worth $2,421,000 after buying an additional 49,143 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Polaris in the 2nd quarter worth about $640,000. Institutional investors own 88.06% of the company’s stock.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.