Zacks Investment Research downgraded shares of Polaris Industries (NYSE:PII) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Polaris Industries Inc. is a global power sports leader that has been fueling the passion of riders, workers and outdoor enthusiasts for years. With annual 2016 sales of $4.5 billion, Polaris’ innovative, high-quality product line-up includes the RANGER, RZR and Polaris GENERAL side-by-side off-road vehicles; the Sportsman and Polaris ACE all-terrain off-road vehicles; Indian Motorcycle midsize and heavyweight motorcycles; Slingshot moto-roadsters; and Polaris RMK, INDY, Switchback and RUSH snowmobiles. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets globally includes military and commercial off-road vehicles, quadricycles, and electric vehicles. “
Several other research analysts have also issued reports on the company. Wedbush increased their target price on Polaris Industries from $112.00 to $119.00 and gave the stock a neutral rating in a research report on Wednesday. B. Riley increased their target price on Polaris Industries from $91.00 to $118.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Robert W. Baird increased their target price on Polaris Industries from $105.00 to $120.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. SunTrust Banks reissued a hold rating and issued a $115.00 target price on shares of Polaris Industries in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Stifel Nicolaus increased their target price on Polaris Industries from $100.00 to $108.00 and gave the stock a hold rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $102.20.
Polaris Industries (NYSE:PII) last announced its earnings results on Tuesday, October 24th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.24. Polaris Industries had a return on equity of 33.81% and a net margin of 3.90%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was up 24.8% compared to the same quarter last year. analysts forecast that Polaris Industries will post 4.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Thursday, November 30th. Polaris Industries’s dividend payout ratio (DPR) is presently 72.96%.
In other Polaris Industries news, insider Stephen L. Eastman sold 8,500 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $119.25, for a total transaction of $1,013,625.00. Following the sale, the insider now directly owns 18,846 shares in the company, valued at approximately $2,247,385.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stacy L. Bogart sold 20,000 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $122.05, for a total value of $2,441,000.00. Following the sale, the senior vice president now owns 30,975 shares in the company, valued at $3,780,498.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,102 shares of company stock valued at $7,174,301. 2.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of PII. Janus Henderson Group PLC boosted its stake in Polaris Industries by 27,968.2% during the 2nd quarter. Janus Henderson Group PLC now owns 2,411,062 shares of the company’s stock valued at $222,372,000 after purchasing an additional 2,402,472 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Polaris Industries by 12.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,256,665 shares of the company’s stock worth $484,822,000 after buying an additional 572,461 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Polaris Industries by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,627,636 shares of the company’s stock worth $519,037,000 after buying an additional 323,616 shares during the last quarter. State Street Corp boosted its stake in shares of Polaris Industries by 3.8% in the 2nd quarter. State Street Corp now owns 4,377,894 shares of the company’s stock worth $403,763,000 after buying an additional 161,055 shares during the last quarter. Finally, Columbus Circle Investors purchased a new position in shares of Polaris Industries in the 3rd quarter worth $13,969,000. Institutional investors and hedge funds own 90.90% of the company’s stock.
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Polaris Industries Company Profile
Polaris Industries Inc designs, engineers and manufactures powersports vehicles, which include Off-Road Vehicles (ORV), including All-Terrain Vehicles (ATV) and side-by-side vehicles for recreational and utility use; Snowmobiles, Motorcycles and Global Adjacent Markets vehicles, including Work and Transportation and military vehicles.
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