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Fly News Breaks for March 27, 2017
PII
Mar 27, 2017 | 09:39 EDT
Northcoast analyst Seth Woolf said Polaris dealer checks in the first part of March indicates business has slowed meaningfully in the face of weather, competition and harder comps. The analyst acknowledges that a couple months do not make a trends, but said it could ultimately be an issue as management's 2017 expectations as it relied on strong Ranger sales. Woolf did not make any changes to estimates at this point and maintains his Neutral rating.
News For PII From the Last 2 Days
PII
Apr 24, 2024 | 09:48 EDT
PII
Apr 24, 2024 | 09:05 EDT
RBC Capital lowered the firm's price target on Polaris to $97 from $103 and keeps a Sector Perform rating on the shares. The company's Q1 results were "in-line to ahead" of estimates and the management affirmed its guidance, but while Polaris believes the company's inventory is largely healthy relative to the overall industry, dealers view their general inventory as being too high given the weaker retailing environment and higher/rising floorplan financing costs, the analyst tells investors in a research note.
PII
Apr 24, 2024 | 06:38 EDT
Baird lowered the firm's price target on Polaris to $100 from $110 and keeps an Outperform rating on the shares. The firm said they beat expectations and reiterated guidance, but shares fell 2% on persistent inventory concerns. Baird believes the stock seems washed out or close to it, but investors need to be convinced "the last cut" to guidance is in place before buying into the 2026 plan.
PII
Apr 24, 2024 | 06:14 EDT
Citi analyst James Hardiman lowered the firm's price target on Polaris to $96 from $100 and keeps a Neutral rating on the shares. The Q1 upside appears to be a function of expense timing if the reiterated guidance is any indication, the analyst tells investors in a research note. Citi continues to see risk to the remainder of the year, but sees limited downside to shares from here, with its base case implying modest upside over the next twelve months. It believes elevated promotions continue to weigh on the leisure industry.
