Polaris (NYSE:PII) Upgraded to “Buy” at StockNews.com

Polaris (NYSE:PII) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Several other research firms also recently weighed in on PII. Robert W. Baird reissued an “outperform” rating and set a $140.00 price target on shares of Polaris in a research report on Thursday, September 7th. Truist Financial lifted their price objective on Polaris from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Wednesday, July 26th. BMO Capital Markets lifted their price objective on Polaris from $110.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, July 26th. KeyCorp boosted their price target on Polaris from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. Finally, Citigroup boosted their price target on Polaris from $130.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, July 27th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Polaris currently has a consensus rating of “Hold” and a consensus price target of $124.18.

Polaris Price Performance

PII stock opened at $106.59 on Tuesday. The business’s 50-day moving average is $122.52 and its two-hundred day moving average is $114.94. The firm has a market capitalization of $6.04 billion, a P/E ratio of 9.95 and a beta of 1.68. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.20 and a quick ratio of 0.36. Polaris has a 1 year low of $91.86 and a 1 year high of $138.49.

Polaris (NYSE:PII) last posted its quarterly earnings data on Tuesday, July 25th. The company reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.21. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Polaris had a return on equity of 57.98% and a net margin of 6.89%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the firm earned $2.42 EPS. Analysts anticipate that Polaris will post 10.41 earnings per share for the current fiscal year.

Insider Activity at Polaris

In related news, Director Kevin M. Farr sold 1,615 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $134.33, for a total value of $216,942.95. Following the completion of the sale, the director now directly owns 17,870 shares of the company’s stock, valued at $2,400,477.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael T. Speetzen sold 58,301 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $136.14, for a total transaction of $7,937,098.14. Following the completion of the transaction, the chief executive officer now directly owns 56,067 shares of the company’s stock, valued at $7,632,961.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kevin M. Farr sold 1,615 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $134.33, for a total value of $216,942.95. Following the completion of the transaction, the director now directly owns 17,870 shares of the company’s stock, valued at $2,400,477.10. The disclosure for this sale can be found here. Insiders sold a total of 145,464 shares of company stock valued at $19,593,994 over the last three months. 2.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Polaris

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Polaris by 1.5% in the third quarter. Vanguard Group Inc. now owns 5,885,506 shares of the company’s stock worth $562,950,000 after purchasing an additional 89,717 shares during the period. BlackRock Inc. lifted its position in shares of Polaris by 0.4% during the 1st quarter. BlackRock Inc. now owns 4,868,936 shares of the company’s stock valued at $538,650,000 after acquiring an additional 17,165 shares during the last quarter. State Street Corp lifted its position in shares of Polaris by 14.8% during the 1st quarter. State Street Corp now owns 4,136,582 shares of the company’s stock valued at $435,665,000 after acquiring an additional 532,947 shares during the last quarter. Capital World Investors lifted its position in shares of Polaris by 33.2% during the 1st quarter. Capital World Investors now owns 3,698,573 shares of the company’s stock valued at $389,534,000 after acquiring an additional 922,101 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Polaris by 8.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,422,384 shares of the company’s stock valued at $244,661,000 after acquiring an additional 195,433 shares during the last quarter. 87.36% of the stock is owned by institutional investors.

Polaris Company Profile

Polaris Inc designs, engineers, manufactures, and markets powersports vehicles worldwide. It operates through three segments: Off-Road, On-Road, and Marine. The company offers off-road vehicles (ORVs), including all-terrain vehicles and side-by-side vehicles; military and commercial ORVs; snowmobiles; motorcycles; moto-roadsters, quadricycles, and boats; and aftermarket parts and apparel.