Polaris Industries (NYSE:PII) had its target price hoisted by Wedbush from $106.00 to $116.00 in a research note released on Wednesday morning, The Fly reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Polaris Industries’ Q3 2020 earnings at $2.07 EPS, Q4 2020 earnings at $3.00 EPS, FY2020 earnings at $6.59 EPS, FY2021 earnings at $7.01 EPS and FY2022 earnings at $8.50 EPS.
Several other analysts have also recently weighed in on the company. Wolfe Research began coverage on Polaris Industries in a report on Friday, April 17th. They issued an outperform rating and a $65.00 price target on the stock. BMO Capital Markets raised their price objective on Polaris Industries from $70.00 to $84.00 and gave the company a market perform rating in a report on Thursday, June 18th. Raymond James raised their price objective on Polaris Industries from $108.00 to $114.00 and gave the company a strong-buy rating in a report on Tuesday, June 16th. Lake Street Capital reissued a buy rating and set a $107.00 price objective (up from $82.00) on shares of Polaris Industries in a report on Wednesday, June 3rd. Finally, Robert W. Baird raised their price objective on Polaris Industries from $95.00 to $100.00 and gave the company a neutral rating in a report on Wednesday, July 8th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $97.69.
NYSE:PII opened at $103.63 on Wednesday. The business’s 50-day moving average price is $95.12 and its two-hundred day moving average price is $81.01. Polaris Industries has a twelve month low of $37.35 and a twelve month high of $108.98. The stock has a market cap of $6.36 billion, a P/E ratio of 20.60 and a beta of 2.13. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.94.
Polaris Industries (NYSE:PII) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.70. Polaris Industries had a positive return on equity of 32.38% and a negative net margin of 0.83%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter last year, the firm posted $1.73 EPS. The company’s revenue was down 15.1% compared to the same quarter last year. On average, equities research analysts expect that Polaris Industries will post 6.58 EPS for the current fiscal year.
In other news, SVP Christopher Musso sold 5,000 shares of Polaris Industries stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the sale, the senior vice president now directly owns 28,367 shares in the company, valued at approximately $2,694,865. The sale was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Creative Planning boosted its position in shares of Polaris Industries by 51.1% during the second quarter. Creative Planning now owns 23,667 shares of the company’s stock valued at $2,190,000 after purchasing an additional 7,999 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of Polaris Industries by 24.4% during the first quarter. Texas Permanent School Fund now owns 48,915 shares of the company’s stock valued at $2,355,000 after purchasing an additional 9,583 shares in the last quarter. Comerica Bank boosted its position in shares of Polaris Industries by 13.2% during the first quarter. Comerica Bank now owns 46,076 shares of the company’s stock valued at $2,918,000 after purchasing an additional 5,368 shares in the last quarter. Swiss National Bank boosted its position in shares of Polaris Industries by 23.2% during the first quarter. Swiss National Bank now owns 225,549 shares of the company’s stock valued at $10,860,000 after purchasing an additional 42,400 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new stake in shares of Polaris Industries during the second quarter valued at approximately $308,000. Hedge funds and other institutional investors own 74.02% of the company’s stock.
About Polaris Industries
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. It operates in five segments: ORV/Snowmobiles, Motorcycles, Global Adjacent Markets, Aftermarket, and Boats. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; snowmobiles and snow bike conversion kit systems; motorcycles; low emission, light duty hauling, passenger, and industrial vehicles; and boats.
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