Wedbush Boosts Polaris Industries (NYSE:PII) Price Target to $116.00

Polaris Industries (NYSE:PII) had its price objective upped by Wedbush from $106.00 to $116.00 in a research report sent to investors on Wednesday morning, The Fly reports. Wedbush currently has an outperform rating on the stock. Wedbush also issued estimates for Polaris Industries’ Q3 2020 earnings at $2.07 EPS, Q4 2020 earnings at $3.00 EPS, FY2020 earnings at $6.59 EPS, FY2021 earnings at $7.01 EPS and FY2022 earnings at $8.50 EPS.

PII has been the topic of several other research reports. SunTrust Banks increased their target price on Polaris Industries from $56.00 to $68.00 and gave the company a hold rating in a research report on Wednesday, April 29th. BMO Capital Markets upped their price target on Polaris Industries from $70.00 to $84.00 and gave the stock a market perform rating in a research report on Thursday, June 18th. KeyCorp upped their target price on Polaris Industries from $90.00 to $120.00 and gave the company an overweight rating in a research report on Wednesday. Wells Fargo & Co boosted their price target on Polaris Industries from $65.00 to $82.00 and gave the stock an overweight rating in a research note on Wednesday, April 29th. Finally, Wolfe Research began coverage on shares of Polaris Industries in a research report on Friday, April 17th. They set an outperform rating and a $65.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $97.69.

PII traded down $0.61 on Wednesday, reaching $103.63. 3,704,146 shares of the company traded hands, compared to its average volume of 867,698. The company has a quick ratio of 0.50, a current ratio of 0.99 and a debt-to-equity ratio of 1.94. The company has a market cap of $6.39 billion, a P/E ratio of 20.72 and a beta of 2.13. The firm has a fifty day simple moving average of $95.12 and a two-hundred day simple moving average of $81.01. Polaris Industries has a one year low of $37.35 and a one year high of $108.98.

Polaris Industries (NYSE:PII) last issued its earnings results on Tuesday, July 28th. The company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.70. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.37 billion. Polaris Industries had a positive return on equity of 32.38% and a negative net margin of 0.83%. Polaris Industries’s revenue was down 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities analysts forecast that Polaris Industries will post 6.58 earnings per share for the current year.

In related news, SVP Christopher Musso sold 5,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $95.00, for a total transaction of $475,000.00. Following the transaction, the senior vice president now directly owns 28,367 shares in the company, valued at $2,694,865. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Creative Planning lifted its stake in Polaris Industries by 51.1% in the second quarter. Creative Planning now owns 23,667 shares of the company’s stock valued at $2,190,000 after buying an additional 7,999 shares during the last quarter. Texas Permanent School Fund increased its position in Polaris Industries by 24.4% during the 1st quarter. Texas Permanent School Fund now owns 48,915 shares of the company’s stock worth $2,355,000 after purchasing an additional 9,583 shares in the last quarter. Comerica Bank lifted its holdings in Polaris Industries by 13.2% in the 1st quarter. Comerica Bank now owns 46,076 shares of the company’s stock valued at $2,918,000 after purchasing an additional 5,368 shares in the last quarter. Swiss National Bank boosted its stake in shares of Polaris Industries by 23.2% during the 1st quarter. Swiss National Bank now owns 225,549 shares of the company’s stock worth $10,860,000 after purchasing an additional 42,400 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Polaris Industries in the second quarter valued at approximately $308,000. Institutional investors own 74.02% 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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Analyst Recommendations for Polaris Industries (NYSE:PII)

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