Polaris Industries Inc. (PII) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Polaris Industries Inc. (NYSE:PII) from a hold rating to a buy rating in a research report report published on Friday morning. The firm currently has $117.00 price objective on the stock.
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. “
Other analysts have also recently issued reports about the stock. KeyCorp reaffirmed a sector weight rating on shares of Polaris Industries in a report on Thursday, August 31st. BidaskClub upgraded shares of Polaris Industries from a hold rating to a buy rating in a research note on Thursday, June 29th. Royal Bank Of Canada reissued a hold rating and set a $79.00 price objective on shares of Polaris Industries in a report on Friday, June 9th. Robert W. Baird reissued a neutral rating on shares of Polaris Industries in a report on Sunday, September 3rd. Finally, Wedbush reissued a neutral rating and issued a $75.00 target price on shares of Polaris Industries in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and an average price target of $91.31.
Polaris Industries (PII) opened at 104.63 on Friday. The stock has a market capitalization of $6.55 billion, a P/E ratio of 43.76 and a beta of 1.31. Polaris Industries has a 52-week low of $73.07 and a 52-week high of $108.45. The company has a 50 day moving average of $94.27 and a 200-day moving average of $88.72.
Polaris Industries (NYSE:PII) last released its earnings results on Thursday, July 20th. The company reported $1.16 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the prior year, the business posted $1.09 EPS. The business’s revenue was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Polaris Industries will post $4.48 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Wednesday, August 30th. Polaris Industries’s payout ratio is 97.07%.
In related news, SVP James P. Williams sold 5,250 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now directly owns 19,914 shares in the company, valued at approximately $1,856,781.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director George W. Bilicic bought 2,833 shares of the company’s stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $95.18 per share, for a total transaction of $269,644.94. Following the completion of the transaction, the director now directly owns 2,833 shares of the company’s stock, valued at $269,644.94. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in shares of Polaris Industries by 3,542.9% during the first quarter. BlackRock Inc. now owns 5,359,600 shares of the company’s stock valued at $449,135,000 after acquiring an additional 5,212,474 shares during the period. Janus Henderson Group PLC grew its position in shares of Polaris Industries by 27,968.2% during the second quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock worth $222,372,000 after acquiring an additional 2,402,472 shares during the last quarter. Janus Capital Management LLC grew its position in shares of Polaris Industries by 36.6% during the first quarter. Janus Capital Management LLC now owns 2,344,287 shares of the company’s stock worth $196,447,000 after acquiring an additional 627,535 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of 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 acquiring an additional 572,461 shares during the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of Polaris Industries by 51.5% during the second quarter. Confluence Investment Management LLC now owns 1,106,651 shares of the company’s stock worth $102,066,000 after acquiring an additional 376,083 shares during the last quarter. Institutional investors own 95.20% 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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