Polaris (NYSE:PII) Given New $81.00 Price Target at Morgan Stanley

Polaris (NYSE:PII) had its target price hoisted by investment analysts at Morgan Stanley from $72.00 to $81.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 14.85% from the stock’s previous close.

A number of other analysts have also commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $70.00 target price on shares of Polaris in a research report on Wednesday, October 29th. Loop Capital initiated coverage on Polaris in a report on Thursday, November 13th. They set a “hold” rating and a $59.00 price objective for the company. Zacks Research cut Polaris from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Royal Bank Of Canada lifted their price target on shares of Polaris from $56.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Polaris in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $59.58.

Polaris Trading Down 0.4%

Shares of NYSE:PII traded down $0.26 during mid-day trading on Friday, hitting $70.53. The company had a trading volume of 148,292 shares, compared to its average volume of 832,137. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.02 and a quick ratio of 0.36. Polaris has a one year low of $30.92 and a one year high of $75.25. The firm has a fifty day moving average price of $66.78 and a 200 day moving average price of $60.44. The company has a market capitalization of $3.97 billion, a PE ratio of -26.62, a price-to-earnings-growth ratio of 2.31 and a beta of 1.14.

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

Insider Activity at Polaris

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

Institutional Investors Weigh In On Polaris

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new position in Polaris in the 3rd quarter valued at approximately $26,000. Parkside Financial Bank & Trust boosted its holdings in shares of Polaris by 371.4% in the second quarter. Parkside Financial Bank & Trust now owns 693 shares of the company’s stock worth $28,000 after acquiring an additional 546 shares during the period. EMC Capital Management purchased a new position in shares of Polaris in the second quarter valued at $36,000. Quent Capital LLC bought a new stake in shares of Polaris during the 3rd quarter valued at $37,000. Finally, Huntington National Bank lifted its holdings in Polaris by 218.0% during the 2nd quarter. Huntington National Bank now owns 1,062 shares of the company’s stock worth $43,000 after purchasing an additional 728 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Polaris Company Profile

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.