PowersportsBusiness.com
You will automatically be redirected in 10 seconds. Click here to proceed.

Social Media

Major OEM stock sees bump after analyst upgrade

June 12, 2009
Filed under Features

Shares of Polaris Industries got a bump last month after an analyst upgraded the company’s stock to “outperform,” according to a report in the Minneapolis / St. Paul Business Journal.

The day the upgrade was announced, Polaris stock rose 9.8 percent, or $2.81, to $31.39 in morning trading. Currently Polaris is still trading at around $31 per share.

R.W. Bair Analyst Craig Kennison said in a research note that Polaris’ efforts to expand further into military and “on-road” vehicles lead to the upgrade. In May, Polaris announced a new On-Road Vehicle Division to handle its Victory Motorcycles business as well as adjacent on-road markets that have yet to be announced.

Kennison said he expects the company to report a full-year profit of $2.90 per share, close to the high-end of the company’s estimated range of between $2.50 and $3 per share. Analysts polled by Thomson Reuters were expecting earnings of $2.68 per share, according to the Business Journal.

  • For more of the latest news, click here.
  • To see the contents of the current print issue of PSB, click here.

Comments

Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!