Lake Street Capital Increases Polaris Industries (NYSE:PII) Price Target to $128.00

Polaris Industries (NYSE:PII) had its target price lifted by Lake Street Capital from $107.00 to $128.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has a buy rating on the stock.

A number of other research firms have also commented on PII. Stifel Nicolaus boosted their price objective on Polaris Industries from $51.00 to $67.00 and gave the stock a hold rating in a research note on Wednesday, April 29th. Zacks Investment Research lowered Polaris Industries from a buy rating to a hold rating in a research note on Tuesday, July 14th. Robert W. Baird boosted their price objective on Polaris Industries from $95.00 to $100.00 and gave the stock a neutral rating in a research note on Wednesday, July 8th. BMO Capital Markets boosted their price objective on Polaris Industries from $70.00 to $84.00 and gave the stock a market perform rating in a research note on Thursday, June 18th. Finally, Wolfe Research began coverage on Polaris Industries in a research note on Friday, April 17th. They issued an outperform rating and a $65.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $97.69.

Shares of NYSE:PII opened at $103.63 on Wednesday. The business’s fifty day moving average price is $95.12 and its two-hundred day moving average price is $81.01. Polaris Industries has a fifty-two week low of $37.35 and a fifty-two week high of $108.98. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 20.60 and a beta of 2.13. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.99 and a quick ratio of 0.50.

Polaris Industries (NYSE:PII) last announced its quarterly earnings results on Tuesday, July 28th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.70. Polaris Industries had a positive return on equity of 32.38% and a negative net margin of 0.83%. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The business’s revenue was down 15.1% compared to the same quarter last year. Research analysts expect that Polaris Industries will post 6.58 EPS for the current fiscal year.

In other Polaris Industries news, SVP Christopher Musso sold 5,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $95.00, for a total value of $475,000.00. Following the transaction, the senior vice president now owns 28,367 shares of the company’s stock, valued at $2,694,865. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Polaris Industries in the second quarter worth about $704,000. Mackay Shields LLC bought a new position in shares of Polaris Industries during the second quarter worth about $337,000. Hancock Whitney Corp bought a new position in shares of Polaris Industries during the second quarter worth about $1,598,000. Brinker Capital Inc. grew its holdings in shares of Polaris Industries by 19.3% during the second quarter. Brinker Capital Inc. now owns 15,229 shares of the company’s stock worth $1,409,000 after buying an additional 2,465 shares in the last quarter. Finally, ARP Americas LP bought a new position in shares of Polaris Industries during the second quarter worth about $598,000. 74.02% of the stock is currently owned by hedge funds and other institutional investors.

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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