Rafferty Asset Management LLC Purchases Shares of 7,328 Polaris Industries Inc. (PII)

Rafferty Asset Management LLC purchased a new stake in Polaris Industries Inc. (NYSE:PII) in the third quarter, Holdings Channel reports. The fund purchased 7,328 shares of the company’s stock, valued at approximately $740,000.

Other hedge funds also recently bought and sold shares of the company. Columbia Asset Management bought a new stake in Polaris Industries in the third quarter valued at approximately $164,000. Laurel Wealth Advisors Inc. bought a new stake in Polaris Industries in the second quarter valued at approximately $203,000. Engineers Gate Manager LP bought a new stake in Polaris Industries in the second quarter valued at approximately $208,000. Hartford Investment Management Co. bought a new stake in Polaris Industries in the second quarter valued at approximately $216,000. Finally, Smith Shellnut Wilson LLC ADV bought a new stake in Polaris Industries in the third quarter valued at approximately $217,000. 82.23% of the stock is owned by institutional investors and hedge funds.

Polaris Industries stock opened at $97.00 on Monday. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. Polaris Industries Inc. has a 52-week low of $84.63 and a 52-week high of $137.66. The company has a current ratio of 1.19, a quick ratio of 0.40 and a debt-to-equity ratio of 2.00.

Polaris Industries (NYSE:PII) last posted its quarterly earnings results on Monday, October 22nd. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.29. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Polaris Industries had a return on equity of 43.14% and a net margin of 4.68%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.46 EPS. As a group, sell-side analysts forecast that Polaris Industries Inc. will post 6.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, November 30th. Polaris Industries’s dividend payout ratio is currently 49.48%.

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Polaris Industries from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Monday, August 13th. Zacks Investment Research upgraded Polaris Industries from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Tuesday, August 7th. Wells Fargo & Co cut their price target on Polaris Industries from $125.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, October 23rd. SunTrust Banks cut their price target on Polaris Industries to $100.00 and set a “hold” rating on the stock in a report on Tuesday, October 23rd. Finally, Longbow Research restated a “hold” rating on shares of Polaris Industries in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Polaris Industries has an average rating of “Hold” and an average target price of $111.23.

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Polaris Industries Profile

Polaris Industries Inc designs, engineers, manufactures, and markets power sports vehicles worldwide. The company operates through four segments: Off-Road Vehicles (ORVs)/Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. It offers ORVs, including all-terrain vehicles and side-by-side vehicles for recreational and utility use; snowmobiles; motorcycles; and low emission, light duty hauling, passenger, commercial, and industrial vehicles, as well as snow bike conversion kit systems.

Further Reading: What is a conference call?

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Institutional Ownership by Quarter for Polaris Industries (NYSE:PII)

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