Zacks Investment Research upgraded shares of Polaris Industries (NYSE:PII) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday morning. The firm currently has $143.00 price target on the stock.
According to Zacks, “Polaris Industries Inc. is a global power sports leader that has been fueling the passion of riders, workers and outdoor enthusiasts for years. With annual 2016 sales of $4.5 billion, Polaris’ innovative, high-quality product line-up includes the RANGER, RZR and Polaris GENERAL side-by-side off-road vehicles; the Sportsman and Polaris ACE all-terrain off-road vehicles; Indian Motorcycle midsize and heavyweight motorcycles; Slingshot moto-roadsters; and Polaris RMK, INDY, Switchback and RUSH snowmobiles. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets globally includes military and commercial off-road vehicles, quadricycles, and electric vehicles. “
A number of other research firms also recently weighed in on PII. SunTrust Banks upped their price target on shares of Polaris Industries to $132.00 and gave the stock a hold rating in a research note on Monday. Stifel Nicolaus reaffirmed a hold rating and issued a $114.00 price target (up from $112.00) on shares of Polaris Industries in a research note on Friday, April 13th. BMO Capital Markets reaffirmed a hold rating and issued a $125.00 price target (up from $105.00) on shares of Polaris Industries in a research note on Monday, April 9th. Wedbush set a $124.00 price target on shares of Polaris Industries and gave the stock a hold rating in a research note on Thursday, May 31st. Finally, ValuEngine raised shares of Polaris Industries from a hold rating to a buy rating in a research note on Thursday, May 17th. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Polaris Industries has a consensus rating of Hold and a consensus target price of $116.06.
Polaris Industries (NYSE:PII) last posted its quarterly earnings results on Tuesday, April 24th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.19. Polaris Industries had a net margin of 4.15% and a return on equity of 36.32%. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $0.75 earnings per share. Polaris Industries’s revenue for the quarter was up 12.5% compared to the same quarter last year. analysts predict that Polaris Industries will post 6.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Friday, June 1st were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, May 31st. Polaris Industries’s payout ratio is 49.48%.
In other news, SVP James P. Williams sold 14,750 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $127.80, for a total value of $1,885,050.00. Following the sale, the senior vice president now directly owns 20,467 shares of the company’s stock, valued at $2,615,682.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott W. Wine sold 245,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $118.36, for a total value of $28,998,200.00. Following the completion of the sale, the chief executive officer now directly owns 357,154 shares in the company, valued at $42,272,747.44. The disclosure for this sale can be found here. Insiders have sold 300,012 shares of company stock worth $35,932,249 over the last three months. Company insiders own 2.40% of the company’s stock.
Several large investors have recently modified their holdings of PII. Delpha Capital Management LLC acquired a new stake in shares of Polaris Industries in the fourth quarter valued at about $120,000. Well Done LLC acquired a new stake in shares of Polaris Industries in the first quarter valued at about $128,000. Assetmark Inc. grew its position in shares of Polaris Industries by 1,097.8% in the fourth quarter. Assetmark Inc. now owns 1,078 shares of the company’s stock valued at $134,000 after purchasing an additional 988 shares during the last quarter. Ostrum Asset Management acquired a new stake in shares of Polaris Industries in the first quarter valued at about $135,000. Finally, NuWave Investment Management LLC lifted its stake in shares of Polaris Industries by 57.9% in the first quarter. NuWave Investment Management LLC now owns 1,566 shares of the company’s stock valued at $179,000 after buying an additional 574 shares during the period. 86.39% of the stock is currently owned by institutional investors.
Polaris Industries Company Profile
Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. The company operates through four segments: Off-Road Vehicles (ORVs)/Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. It offers ORVs, including all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles; motorcycles; and low emission, light duty hauling, passenger, commercial, and industrial vehicles, as well as snow bike conversion kit systems.
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