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Investing.com - Loop Capital initiated coverage on Polaris Industries (NYSE:PII) with a Hold rating and a price target of $59.00 on Friday, below the current trading price of $64.82. This aligns with the broader analyst consensus of Hold (2.93 rating) according to InvestingPro data.
The research firm cited concerns about Polaris’s long-term outlook despite acknowledging the company’s achievement in reaching the number one North American off-road vehicle market share position. These concerns appear warranted as InvestingPro data shows Polaris isn’t profitable over the last twelve months, with revenue declining 9.32% during this period.
Loop Capital expressed specific reservations about Polaris’s approach to inventory management and promotional activity, questioning the company’s ability to maintain market share without sacrificing profitability in a normalized retail environment. This comes as Polaris offers a substantial 4.13% dividend yield despite its profitability challenges.
The $59 price target is based on an EV/EBITDA multiple of 8.0x Loop Capital’s fiscal year 2026 EBITDA estimate of $593.3 million, which exceeds the consensus estimate of $507.2 million. Notably, Polaris currently trades at a much higher EV/EBITDA of 12.01x, suggesting potential overvaluation relative to Loop Capital’s assessment.
Loop Capital noted its above-consensus estimate reflects the absence of the Indian Motorcycle business, while explaining that the consensus FY26 estimate is skewed by analysts including Indian in their projections. Despite these concerns, Polaris has seen a remarkable 73.16% price increase over the past six months. For deeper analysis and additional insights, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Polaris Industries reported a robust performance for the third quarter of 2025, significantly surpassing earnings expectations. The company achieved an earnings per share of $0.41, notably higher than the projected $0.23, marking a 78.26% surprise. Revenue also exceeded forecasts, reaching $1.84 billion compared to the anticipated $1.79 billion. Additionally, Polaris declared a regular quarterly cash dividend of $0.67 per share, payable on December 15, 2025, to shareholders of record as of December 1, 2025. In financial developments, Polaris issued $500 million in 5.6% senior notes due 2031, with BofA Securities, Wells Fargo Securities, MUFG Securities Americas, and U.S. Bancorp Investments acting as underwriters. BMO Capital raised its price target for Polaris to $70 from $52, maintaining a Market Perform rating. The firm noted continued momentum in Polaris’s off-road vehicle retail sales and market share, which contributed to the revised target. These updates reflect Polaris’s ongoing strategic and financial initiatives.
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