Polaris Industries Inc. (NYSE:PII) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Polaris Industries Inc. (NYSE:PII) from a sell rating to a hold rating in a report issued on Wednesday, July 12th.
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. “
Several other equities research analysts have also issued reports on PII. Northcoast Research reiterated a hold rating on shares of Polaris Industries in a report on Monday, March 27th. B. Riley reissued a neutral rating and issued a $82.00 price objective on shares of Polaris Industries in a research note on Friday, April 21st. BMO Capital Markets reaffirmed a buy rating and issued a $100.00 price target on shares of Polaris Industries in a research report on Thursday, April 27th. Stifel Nicolaus reaffirmed a hold rating and issued a $82.00 price target (up from $81.00) on shares of Polaris Industries in a research report on Saturday, April 29th. Finally, Wedbush restated a neutral rating and set a $75.00 price objective on shares of Polaris Industries in a research report on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $86.87.
Polaris Industries (NYSE PII) opened at 89.40 on Wednesday. The firm’s 50-day moving average is $90.36 and its 200 day moving average is $86.78. Polaris Industries has a 12-month low of $70.14 and a 12-month high of $99.16. The stock has a market capitalization of $5.59 billion, a P/E ratio of 37.39 and a beta of 1.31.
Polaris Industries (NYSE:PII) last announced its quarterly earnings results on Thursday, July 20th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.26 billion. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The firm’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Equities analysts expect that Polaris Industries will post $4.47 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.58 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $2.32 annualized dividend and a dividend yield of 2.60%. Polaris Industries’s dividend payout ratio (DPR) is currently 97.07%.
In related news, Director Gwenne A. Henricks purchased 1,200 shares of Polaris Industries stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $92.27 per share, with a total value of $110,724.00. Following the completion of the transaction, the director now owns 1,200 shares of the company’s stock, valued at approximately $110,724. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Matthew J. Homan sold 2,600 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $86.96, for a total value of $226,096.00. Following the transaction, the insider now directly owns 20,871 shares of the company’s stock, valued at $1,814,942.16. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its stake in 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 raised its position 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 period. CENTRAL TRUST Co raised its position 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 period. Capital Investment Services of America Inc. raised its position in shares of Polaris Industries by 3.9% in the first quarter. Capital Investment Services of America Inc. now owns 81,575 shares of the company’s stock worth $6,836,000 after buying an additional 3,031 shares during the period. Finally, Lau Associates LLC raised its position in shares of Polaris Industries by 0.6% in the first quarter. Lau Associates LLC now owns 12,955 shares of the company’s stock worth $1,086,000 after buying an additional 80 shares during the period. 93.98% of the stock is owned by institutional investors.
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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