Why Polaris Industries Inc. Stock Popped Today
Shares of Polaris Industries Inc. (NYSE: PII), were up 14.6% as of 1:30 p.m. EDT Tuesday after the motorcycle, snowmobile, and off-road vehicle specialist announced strong third-quarter 2017 results and increased its full-year guidance.
More specifically on the former, Polaris' adjusted quarterly revenue climbed 25% year over year to $1.48 billion, including a 13% increase in Polaris North American unit retail sales. Roughly half of Polaris' overall revenue increase stemmed from organic growth. On the bottom line, adjusted net income nearly tripled on a year-over-year basis to $93.5 million, or $1.46 per diluted share. Both figures were well ahead of investors' expectations for adjusted earnings of $1.23 per share on revenue of $1.4 billion.
Image source: Polaris Industries.
Source: Fool.com
Polaris Industries Inc. Stock
Polaris Industries Inc. is currently one of the favorites of our community with 10 Buy predictions and no Sell predictions.
With a target price of 99 € there is a positive potential of 35.62% for Polaris Industries Inc. compared to the current price of 73.0 €.
