B.Riley FBR analyst Eric Wold downgraded Polaris (PII) to Hold today and set a price target of $99. The company’s shares closed on Friday at $88.46, close to its 52-week low of $84.63.
Wold said:
“We are revisiting Polaris Industries (PII) following the ups and downs with the tariff discussions between the U.S. and China that ended on a much murkier note towards the end of the week following the arrest of the Huawei CFO in Canada and potential for fraud charges to be pursued. Although we only recently upgraded PII from ~30% slide in the shares in the preceding three months (vs. a decline of 1% for the a tariff situation that we felt was more accurately priced into the shares at the time—we acknowledge that events of this past week make the situation, once again, somewhat uncertain. Therefore, with PII shares only slightly higher since the day of the upgrade at +1.3% (vs.”
According to TipRanks.com, Wold is a 1-star analyst with an average return of -2.0% and a 38.5% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
Currently, the analyst consensus on Polaris is a Moderate Buy with an average price target of $103.33.
See today’s analyst top recommended stocks >>
Polaris’ market cap is currently $5.46B and has a P/E ratio of 20.72. The company has a Price to Book ratio of 6.08.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Polaris Industries Inc. designs, engineers, and manufactures powersports vehicles. It operates through the following segments: Off-Road Vehicles (ORV), Snowmobiles, Motorcycles, Global Adjacent Markets, and Aftermarket. The ORV segment provides sport, utility, and crossover side-by-side vehicles.
