Zacks Investment Research lowered shares of Polaris Industries Inc. (NYSE:PII) from a buy rating to a hold rating in a research note published on Saturday.
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 research firms have also recently commented on PII. Stifel Nicolaus reaffirmed a hold rating and set a $87.00 target price (up previously from $86.00) on shares of Polaris Industries in a research note on Monday, July 24th. B. Riley reaffirmed a neutral rating and set a $82.00 target price on shares of Polaris Industries in a research note on Friday, April 21st. Royal Bank of Canada reaffirmed a hold rating and set a $79.00 target price on shares of Polaris Industries in a research note on Friday, June 9th. Longbow Research reaffirmed an underperform rating and set a $60.00 target price on shares of Polaris Industries in a research note on Monday, July 17th. Finally, Robert W. Baird cut Polaris Industries from an outperform rating to a neutral rating and raised their target price for the stock from $88.00 to $96.00 in a research note on Friday, July 21st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $86.87.
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Polaris Industries (PII) opened at 90.35 on Friday. The company has a market cap of $5.65 billion, a PE ratio of 37.80 and a beta of 1.32. The stock’s 50 day moving average price is $90.36 and its 200 day moving average price is $86.78. Polaris Industries has a 12-month low of $70.14 and a 12-month high of $99.16.
Polaris Industries (NYSE:PII) last released its earnings results on Thursday, July 20th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.08 by $0.08. Polaris Industries had a return on equity of 26.47% and a net margin of 3.13%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The firm’s revenue was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Polaris Industries will post $4.47 EPS for the current year.
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The company 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 yield of 2.57%. Polaris Industries’s payout ratio is currently 97.07%.
In other news, insider Matthew J. Homan sold 2,600 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $86.96, for a total value of $226,096.00. Following the transaction, the insider now owns 20,871 shares in the company, valued at $1,814,942.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gwenne A. Henricks bought 1,200 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was bought at an average price of $92.27 per share, for a total transaction of $110,724.00. Following the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at $110,724. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. HL Financial Services LLC raised its position in Polaris Industries by 1.4% in the second quarter. HL Financial Services LLC now owns 5,171 shares of the company’s stock worth $477,000 after buying an additional 72 shares in the last quarter. Camelot Portfolios LLC raised its position in Polaris Industries by 1.4% in the second quarter. Camelot Portfolios LLC now owns 12,291 shares of the company’s stock worth $1,134,000 after buying an additional 168 shares in the last quarter. First Bank & Trust raised its position in Polaris Industries by 3.3% in the second quarter. First Bank & Trust now owns 7,994 shares of the company’s stock worth $737,000 after buying an additional 255 shares in the last quarter. IFP Advisors Inc raised its position in Polaris Industries by 1.0% in the second quarter. IFP Advisors Inc now owns 1,274 shares of the company’s stock worth $118,000 after buying an additional 13 shares in the last quarter. Finally, ARP Americas LLC bought a new position in Polaris Industries during the second quarter worth $216,000. Institutional investors own 93.97% of the company’s stock.
Polaris Industries Company Profile
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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