Polaris Industries (NYSE:PII) had its price objective raised by Wells Fargo & Co from $90.00 to $110.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the stock.
Other research analysts have also issued research reports about the company. Goldman Sachs Group began coverage on Polaris Industries in a report on Wednesday. They issued a buy rating and a $123.00 target price on the stock. Wedbush restated a neutral rating and issued a $101.00 target price (up previously from $83.00) on shares of Polaris Industries in a report on Wednesday. TheStreet upgraded Polaris Industries from a c+ rating to a b- rating in a report on Monday, April 22nd. Northcoast Research restated a neutral rating on shares of Polaris Industries in a report on Friday, March 29th. Finally, Zacks Investment Research upgraded Polaris Industries from a sell rating to a hold rating in a report on Thursday, April 11th. Twelve analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $108.00.
NYSE:PII traded up $2.66 on Wednesday, hitting $97.45. The stock had a trading volume of 801,286 shares, compared to its average volume of 734,779. The firm has a market cap of $5.95 billion, a P/E ratio of 14.86, a PEG ratio of 1.05 and a beta of 1.11. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.43 and a current ratio of 1.31. Polaris Industries has a 52 week low of $70.27 and a 52 week high of $131.25.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, May 31st. Polaris Industries’s payout ratio is 37.20%.
In other Polaris Industries news, Director Kevin M. Farr purchased 1,125 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was bought at an average cost of $88.59 per share, with a total value of $99,663.75. Following the completion of the transaction, the director now owns 15,604 shares of the company’s stock, valued at approximately $1,382,358.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.90% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. increased its position in shares of Polaris Industries by 7.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 10,040 shares of the company’s stock valued at $673,000 after acquiring an additional 700 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Polaris Industries by 62.8% during the third quarter. Advisors Asset Management Inc. now owns 2,048 shares of the company’s stock valued at $207,000 after acquiring an additional 790 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Polaris Industries by 31.7% during the third quarter. AQR Capital Management LLC now owns 29,000 shares of the company’s stock valued at $2,928,000 after acquiring an additional 6,979 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Polaris Industries by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,215,683 shares of the company’s stock valued at $627,474,000 after acquiring an additional 91,409 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of Polaris Industries by 65.2% during the third quarter. LPL Financial LLC now owns 20,817 shares of the company’s stock valued at $2,101,000 after acquiring an additional 8,213 shares during the last quarter. 80.48% of the stock is owned by institutional investors.
About Polaris Industries
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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