Polaris Industries (PII) Given New $96.00 Price Target at Royal Bank of Canada

Polaris Industries (NYSE:PII) had its target price reduced by analysts at Royal Bank of Canada to $96.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 4.56% from the stock’s current price.

PII has been the topic of a number of other reports. Zacks Investment Research lowered Polaris Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Wells Fargo & Co lowered their price objective on Polaris Industries from $132.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, July 26th. Robert W. Baird lowered their price objective on Polaris Industries from $125.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 10th. Wedbush reissued a “neutral” rating and set a $98.00 price objective (down previously from $109.00) on shares of Polaris Industries in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective on Polaris Industries from $118.00 to $123.00 and gave the stock a “hold” rating in a research note on Tuesday, July 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $115.08.

Shares of NYSE:PII opened at $91.81 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.44 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $5.86 billion, a PE ratio of 18.93, a PEG ratio of 0.96 and a beta of 0.92. Polaris Industries has a 1 year low of $90.75 and a 1 year high of $137.66.

Polaris Industries (NYSE:PII) last issued its quarterly earnings results on Wednesday, July 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.14. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Polaris Industries had a return on equity of 40.51% and a net margin of 4.58%. The business’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. Research analysts anticipate that Polaris Industries will post 6.53 EPS for the current fiscal year.

In related news, Director George W. Bilicic acquired 1,195 shares of the stock in a transaction on Friday, July 27th. The shares were bought at an average price of $104.61 per share, with a total value of $125,008.95. Following the completion of the purchase, the director now owns 6,239 shares of the company’s stock, valued at approximately $652,661.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott W. Wine acquired 3,000 shares of the stock in a transaction on Friday, July 27th. The shares were bought at an average cost of $104.09 per share, for a total transaction of $312,270.00. Following the purchase, the chief executive officer now directly owns 335,154 shares of the company’s stock, valued at approximately $34,886,179.86. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Polaris Industries by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,754,365 shares of the company’s stock valued at $703,068,000 after purchasing an additional 154,787 shares during the last quarter. FMR LLC lifted its stake in shares of Polaris Industries by 0.5% in the 2nd quarter. FMR LLC now owns 1,309,355 shares of the company’s stock valued at $159,977,000 after purchasing an additional 6,500 shares during the last quarter. Confluence Investment Management LLC lifted its stake in shares of Polaris Industries by 4.4% in the 2nd quarter. Confluence Investment Management LLC now owns 1,132,105 shares of the company’s stock valued at $138,321,000 after purchasing an additional 47,364 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Polaris Industries by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 826,713 shares of the company’s stock valued at $101,007,000 after purchasing an additional 5,597 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its stake in shares of Polaris Industries by 9,266.6% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 773,404 shares of the company’s stock valued at $6,539,000 after purchasing an additional 765,147 shares during the last quarter. 83.55% of the stock is currently owned by institutional investors and hedge funds.

About Polaris Industries

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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