Polaris (NYSE:PII) Raised to “Strong-Buy” at Seaport Res Ptn

Polaris (NYSE:PII) was upgraded by equities researchers at Seaport Res Ptn to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

PII has been the topic of several other reports. Loop Capital assumed coverage on shares of Polaris in a report on Thursday, November 13th. They set a “hold” rating and a $59.00 price target on the stock. Citigroup lifted their price objective on Polaris from $60.00 to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Robert W. Baird upped their target price on shares of Polaris from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. BMO Capital Markets reiterated a “market perform” rating and issued a $70.00 price objective on shares of Polaris in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Polaris in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Polaris has an average rating of “Hold” and a consensus target price of $55.25.

Polaris Stock Performance

Shares of PII opened at $73.55 on Thursday. The firm has a market capitalization of $4.14 billion, a PE ratio of -27.75, a P/E/G ratio of 2.46 and a beta of 1.14. The company has a quick ratio of 0.36, a current ratio of 1.02 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $66.22 and a 200 day moving average price of $59.37. Polaris has a 52-week low of $30.92 and a 52-week high of $75.25.

Polaris (NYSE:PII) last released its earnings results on Monday, October 27th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.68 billion. Polaris had a positive return on equity of 3.89% and a negative net margin of 2.17%.Polaris’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 earnings per share. On average, sell-side analysts anticipate that Polaris will post 1.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Polaris news, SVP James P. Williams sold 4,554 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $67.53, for a total value of $307,531.62. Following the completion of the sale, the senior vice president owned 43,878 shares in the company, valued at approximately $2,963,081.34. This trade represents a 9.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.12% of the company’s stock.

Institutional Trading of Polaris

Several hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. acquired a new stake in shares of Polaris in the third quarter valued at approximately $26,000. Parkside Financial Bank & Trust boosted its position in Polaris by 371.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 693 shares of the company’s stock valued at $28,000 after buying an additional 546 shares during the last quarter. EMC Capital Management acquired a new stake in shares of Polaris in the 2nd quarter valued at $36,000. Quent Capital LLC bought a new stake in shares of Polaris during the third quarter worth $37,000. Finally, Huntington National Bank raised its position in shares of Polaris by 218.0% during the second quarter. Huntington National Bank now owns 1,062 shares of the company’s stock worth $43,000 after acquiring an additional 728 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.