Polaris Industries (NYSE:PII) Given New $105.00 Price Target at Wedbush

Polaris Industries (NYSE:PII) had its price target cut by Wedbush from $117.00 to $105.00 in a report released on Tuesday, The Fly reports. They currently have an outperform rating on the stock. Wedbush also issued estimates for Polaris Industries’ Q3 2019 earnings at $1.65 EPS, Q4 2019 earnings at $1.51 EPS, FY2019 earnings at $5.96 EPS and FY2020 earnings at $5.91 EPS.

A number of other equities research analysts have also issued reports on the company. Goldman Sachs Group set a $131.00 price target on Microsoft and gave the company a buy rating in a research report on Wednesday, April 24th. Citigroup set a $86.00 price target on Prologis and gave the company a buy rating in a research report on Wednesday, May 8th. Wells Fargo & Co upped their price target on Twitter from $33.00 to $40.00 and gave the company a market perform rating in a research report on Wednesday, April 24th. ValuEngine lowered Viewray from a buy rating to a hold rating in a research report on Wednesday, April 24th. Finally, Lake Street Capital upped their price target on USA Technologies from $4.50 to $7.00 and gave the company a hold rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $107.38.

NYSE:PII opened at $83.72 on Tuesday. Polaris Industries has a 12 month low of $70.27 and a 12 month high of $125.43. The business’s 50 day moving average price is $87.38. The company has a current ratio of 1.31, a quick ratio of 0.39 and a debt-to-equity ratio of 2.40. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 0.91 and a beta of 1.32.

Polaris Industries (NYSE:PII) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.16. Polaris Industries had a return on equity of 46.89% and a net margin of 5.22%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.08 EPS. Polaris Industries’s quarterly revenue was up 15.3% on a year-over-year basis. Analysts anticipate that Polaris Industries will post 6.12 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, May 31st. Polaris Industries’s dividend payout ratio is presently 37.20%.

In related news, insider Stephen L. Eastman sold 8,028 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $97.97, for a total value of $786,503.16. Following the transaction, the insider now directly owns 17,706 shares in the company, valued at $1,734,656.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PII. Norges Bank acquired a new position in Polaris Industries in the fourth quarter valued at approximately $40,634,000. Envestnet Asset Management Inc. lifted its holdings in Polaris Industries by 353.7% in the first quarter. Envestnet Asset Management Inc. now owns 284,106 shares of the company’s stock valued at $23,987,000 after acquiring an additional 221,485 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Polaris Industries by 5.2% in the first quarter. Wells Fargo & Company MN now owns 3,110,047 shares of the company’s stock valued at $262,581,000 after acquiring an additional 153,755 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Polaris Industries by 17.5% in the fourth quarter. Bank of New York Mellon Corp now owns 916,348 shares of the company’s stock valued at $70,266,000 after acquiring an additional 136,702 shares during the last quarter. Finally, Rothschild & Co. Asset Management US Inc. acquired a new position in Polaris Industries in the first quarter valued at approximately $11,346,000. Hedge funds and other institutional investors own 78.45% of the company’s stock.

Polaris Industries Company Profile

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

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The Fly

Analyst Recommendations for Polaris Industries (NYSE:PII)

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