Why Polaris Industries Soared
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of vehicle maker Polaris Industries (NYS: PII) have soared today by as much as 11% after the company reported first-quarter earnings.
So what: Both top and bottom lines destroyed the market's expectations, with sales adding up to $673.8 million and earnings per share of $0.85. Compare those figures to the consensus estimates of $612.5 million in revenue and earnings per share of $0.77, and today's jump makes plenty of sense.
Now what: Following up the strong quarter, the company is also raising its full-year guidance with earnings expected to be $3.85-$4.00 per share. Wells Fargo has also come out with an upgrade to "outperform" and a price target range of $84 to $88. It looks like this recent official Fool recommendation is off to a strong start on the Stock Advisor scorecard.
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At the time this article was published Fool contributor Evan Niu holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Polaris Industries. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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