Polaris Industries Inc. (PII) Stock Rating Reaffirmed by Wells Fargo & Company

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.

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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.

Analyst Recommendations for Polaris Industries (NYSE:PII)

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