Polaris Industries Inc. (PII) Given a $77.00 Price Target by Wedbush Analysts
Polaris Industries Inc. (NYSE:PII) received a $77.00 target price from equities researchers at Wedbush in a research report issued to clients and investors on Thursday. The brokerage currently has a a “hold” rating on the stock. Wedbush’s price objective would indicate a potential upside of 1.12% from the stock’s previous close.
Several other research analysts have also recently issued reports on the company. Lake Street Capital restated a “buy” rating and issued a $106.00 price objective (down from $121.00) on shares of Polaris Industries in a research note on Wednesday, June 29th. Wunderlich restated a “buy” rating and issued a $112.00 price objective on shares of Polaris Industries in a research note on Sunday, July 24th. TheStreet upgraded Polaris Industries from a “hold” rating to a “buy” rating in a research note on Monday, August 15th. Citigroup Inc. raised their price objective on Polaris Industries from $100.00 to $107.00 and gave the stock a “buy” rating in a research note on Monday, August 29th. Finally, RBC Capital Markets restated a “hold” rating and issued a $88.00 price objective on shares of Polaris Industries in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $83.60.
Polaris Industries (NYSE:PII) traded down 1.02% on Thursday, reaching $75.37. The company’s stock had a trading volume of 708,424 shares. The firm has a 50-day moving average of $78.61 and a 200 day moving average of $87.32. Polaris Industries has a 12-month low of $67.80 and a 12-month high of $124.39. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 13.02 and a beta of 1.46.
Polaris Industries (NYSE:PII) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.04. The business earned $1.14 billion during the quarter, compared to the consensus estimate of $1.10 billion. Polaris Industries had a return on equity of 40.69% and a net margin of 8.21%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.49 earnings per share. On average, equities research analysts anticipate that Polaris Industries will post $3.58 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Tuesday, August 30th. Polaris Industries’s dividend payout ratio is presently 38.19%.
Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in shares of Polaris Industries by 5,344.6% in the first quarter. Lazard Asset Management LLC now owns 94,300 shares of the company’s stock worth $9,286,000 after buying an additional 92,568 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Polaris Industries during the first quarter worth about $2,197,000. State Street Corp raised its stake in shares of Polaris Industries by 78.1% in the first quarter. State Street Corp now owns 3,547,404 shares of the company’s stock worth $349,351,000 after buying an additional 1,555,422 shares in the last quarter. BB&T Securities LLC raised its stake in shares of Polaris Industries by 19.9% in the first quarter. BB&T Securities LLC now owns 22,827 shares of the company’s stock worth $2,248,000 after buying an additional 3,793 shares in the last quarter. Finally, Bernicke & Associates LTD raised its stake in shares of Polaris Industries by 9.7% in the first quarter. Bernicke & Associates LTD now owns 6,765 shares of the company’s stock worth $666,000 after buying an additional 597 shares in the last quarter. 88.27% of the stock is currently owned by hedge funds and other institutional investors.
Polaris Industries Company Profile
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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