- Aprile 12, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Established in 1954, Polaris is a Roseau, MN-based manufacturer of motorcycles, snowmobiles, all-terrain vehicles, and neighborhood electric vehicles.
Although the stock has been a laggard so far this year, declining 5.2%, it performed better than the S&P 500 Index, which dropped over 6.4% in the same period.
The company’s latest quarterly results were also upbeat, as both revenue and earnings surpassed estimates. Revenues for the quarter ended December 31, 2021, stood at $2.17 billion, up 1% year-over-year. Further, the figure surpassed the consensus estimate of $2.13 billion. Although EPS fell 35.3% from the year-ago period to $2.16, it comfortably surpassed the consensus estimate of $2.02 per share.
On April 8, Robert W. Baird analyst Craig Kennison reiterated a Buy rating on the stock with a price target of $150, which implies upside potential of 43.5% from current levels.
According to the analyst, although the company remains impacted by supply chain problems and other economic headwinds, its valuation remains a source of comfort. Further, the analyst opines that its market-leading position and active buyback programs make it an attractive choice for investors in the long run.
Consensus among analysts is a Strong Buy based on six Buys and two Holds. Polaris’ average price target of $140.13 implies upside potential of 34% from current levels. Shares have declined 26.1% over the past year.
