Seaport Res Ptn Upgrades Polaris (NYSE:PII) to “Strong-Buy”

Polaris (NYSE:PII) was upgraded by investment analysts at Seaport Res Ptn to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. Loop Capital began coverage on Polaris in a research note on Thursday, November 13th. They set a “hold” rating and a $59.00 price objective on the stock. Royal Bank Of Canada lifted their price objective on shares of Polaris from $56.00 to $67.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Roth Capital raised their price target on shares of Polaris from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Zacks Research lowered shares of Polaris from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $70.00 target price on shares of Polaris in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Polaris presently has a consensus rating of “Hold” and a consensus price target of $55.25.

Polaris Stock Performance

Polaris stock opened at $71.86 on Thursday. Polaris has a 52 week low of $30.92 and a 52 week high of $75.25. The company has a current ratio of 1.02, a quick ratio of 0.36 and a debt-to-equity ratio of 1.13. The stock has a market cap of $4.04 billion, a P/E ratio of -27.12, a price-to-earnings-growth ratio of 2.62 and a beta of 1.14. The stock has a 50 day moving average of $66.34 and a 200-day moving average of $59.59.

Polaris (NYSE:PII) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.68 billion. Polaris had a negative net margin of 2.17% and a positive return on equity of 3.89%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, analysts expect that Polaris will post 1.11 EPS for the current fiscal year.

Insider Activity

In related news, SVP James P. Williams sold 4,554 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $67.53, for a total value of $307,531.62. Following the completion of the transaction, the senior vice president directly owned 43,878 shares of the company’s stock, valued at $2,963,081.34. This represents a 9.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new position in shares of Polaris during the third quarter valued at $26,000. Parkside Financial Bank & Trust grew its position in Polaris by 371.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 693 shares of the company’s stock valued at $28,000 after buying an additional 546 shares in the last quarter. EMC Capital Management acquired a new position in Polaris during the 2nd quarter valued at about $36,000. Quent Capital LLC bought a new stake in shares of Polaris during the 3rd quarter worth about $37,000. Finally, Huntington National Bank lifted its stake in shares of Polaris by 218.0% in the 2nd quarter. Huntington National Bank now owns 1,062 shares of the company’s stock worth $43,000 after acquiring an additional 728 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.