Polaris (NYSE:PII) PT Raised to $128.00 at Raymond James

Polaris (NYSE:PII) had its target price hoisted by investment analysts at Raymond James from $127.00 to $128.00 in a research report issued to clients and investors on Wednesday, AR Network reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price would suggest a potential upside of 40.18% from the stock’s previous close.

Several other research firms also recently commented on PII. Citigroup assumed coverage on Polaris in a report on Tuesday, September 15th. They set a “buy” rating and a $120.00 price objective on the stock. Longbow Research upgraded Polaris from a “neutral” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Wednesday, September 30th. Wedbush increased their target price on Polaris from $106.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Northcoast Research reaffirmed a “neutral” rating on shares of Polaris in a research report on Wednesday, July 29th. Finally, Robert W. Baird raised Polaris from a “neutral” rating to an “outperform” rating and set a $122.00 target price on the stock in a research report on Monday, October 5th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $100.73.

Shares of PII stock opened at $91.31 on Wednesday. Polaris has a 1 year low of $37.35 and a 1 year high of $110.30. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.99 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $94.19 and its two-hundred day simple moving average is $90.36. The company has a market cap of $5.60 billion, a PE ratio of -100.34 and a beta of 2.11.

Polaris (NYSE:PII) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.66. Polaris had a positive return on equity of 32.38% and a negative net margin of 0.83%. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Equities research analysts expect that Polaris will post 6.66 EPS for the current year.

In other Polaris news, SVP Christopher Musso sold 3,773 shares of Polaris stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $106.00, for a total transaction of $399,938.00. Following the completion of the sale, the senior vice president now owns 31,374 shares of the company’s stock, valued at approximately $3,325,644. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott W. Wine sold 90,000 shares of Polaris stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $108.23, for a total value of $9,740,700.00. Following the sale, the chief executive officer now directly owns 464,355 shares of the company’s stock, valued at approximately $50,257,141.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,316 shares of company stock valued at $17,692,414. 3.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PII. Psagot Investment House Ltd. purchased a new position in shares of Polaris during the 2nd quarter valued at about $42,000. CX Institutional raised its stake in shares of Polaris by 108.9% during the 3rd quarter. CX Institutional now owns 470 shares of the company’s stock valued at $44,000 after buying an additional 245 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Polaris in the 3rd quarter valued at about $50,000. CWM LLC increased its stake in shares of Polaris by 165.9% in the 3rd quarter. CWM LLC now owns 718 shares of the company’s stock valued at $68,000 after purchasing an additional 448 shares in the last quarter. Finally, Campbell Wealth Management purchased a new position in shares of Polaris in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 73.20% of the company’s stock.

Polaris Company Profile

Polaris 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 bikes conversion kit systems; motorcycles; and low emission, light duty hauling, passenger, and industrial vehicles.

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Analyst Recommendations for Polaris (NYSE:PII)

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