Polaris Industries Inc. (NYSE:PII)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Wells Fargo & Company in a research report issued to clients and investors on Wednesday, October 25th. They currently have a $115.00 price objective on the stock, up from their previous price objective of $93.00. Wells Fargo & Company’s price target indicates a potential downside of 3.65% from the company’s previous close.
A number of other research firms have also weighed in on PII. Stifel Nicolaus reiterated a “hold” rating and issued a $87.00 target price (up from $86.00) on shares of Polaris Industries in a report on Monday, July 24th. Zacks Investment Research downgraded shares of Polaris Industries from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Northcoast Research restated a “hold” rating on shares of Polaris Industries in a report on Tuesday, September 5th. KeyCorp restated a “sector weight” rating on shares of Polaris Industries in a report on Thursday, August 31st. Finally, B. Riley restated a “neutral” rating and set a $91.00 price objective on shares of Polaris Industries in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $99.27.
Shares of Polaris Industries (PII) opened at $119.36 on Wednesday. Polaris Industries has a 1 year low of $77.91 and a 1 year high of $126.85. The firm has a market cap of $7,465.01, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.64 and a beta of 1.39. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.34.
Polaris Industries (NYSE:PII) last issued its earnings results on Tuesday, October 24th. The company reported $1.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.24. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.40 billion. Polaris Industries had a net margin of 3.90% and a return on equity of 33.81%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. analysts forecast that Polaris Industries will post 4.85 EPS for the current fiscal year.
In related news, SVP James P. Williams sold 5,250 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $93.24, for a total transaction of $489,510.00. Following the completion of the sale, the senior vice president now directly owns 19,914 shares of the company’s stock, valued at approximately $1,856,781.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott W. Wine bought 1,293 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average price of $88.81 per share, with a total value of $114,831.33. Following the completion of the acquisition, the chief executive officer now directly owns 317,000 shares in the company, valued at $28,152,770. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,276 shares of company stock worth $396,394 and sold 41,852 shares worth $4,930,631. Company insiders own 2.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Polaris Industries by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock valued at $519,037,000 after buying an additional 323,616 shares during the period. BlackRock Inc. lifted its stake in Polaris Industries by 3,542.9% during the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock worth $449,135,000 after purchasing an additional 5,212,474 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Polaris Industries by 12.2% during the second quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock worth $484,822,000 after purchasing an additional 572,461 shares during the last quarter. State Street Corp increased its position in Polaris Industries by 3.8% during the second quarter. State Street Corp now owns 4,377,894 shares of the company’s stock worth $403,763,000 after buying an additional 161,055 shares during the period. Finally, Wells Fargo & Company MN increased its position in Polaris Industries by 0.4% during the second quarter. Wells Fargo & Company MN now owns 3,504,980 shares of the company’s stock worth $323,265,000 after buying an additional 12,865 shares during the period. Institutional investors own 94.75% of the company’s stock.
About Polaris Industries
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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