Polaris Industries Inc. (NYSE: PII) had its Hold rating reiterated by equities researchers at Wells Fargo & Co. in a research note to investors.With a rating of Hold on the stock, Polaris Industries Inc. has a 52-week high of $126.36. The one-year price target of $83.75 is higher than the opening price of $72.10, causing a fair amount of other analysts to report on the stock recently. Share prices sometimes get a spike to the upside when analysts reiterate coverage.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the index had been up by as many as 37 points and traded with a 58-point range
Shares of Polaris Industries Inc. (NYSE: PII) opened at $72.10 yesterday and traded in a range between, $71.76 and $72.53, and last traded at $72.26, which represents an increase of $0.27 compared to the previous closing price.
Polaris Industries Inc. (NYSE: PII) currently has a market cap of 4.63B.
227,026 shares traded hands yesterday, 91 percent lower than the average, out of a total float 59,306,000. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to determine heavy volume growth or dissemination by institutional investors.
However, just a day of significant buy side trading is not enough to affirm a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
By tracking the activity of these professional investors and how they affect moving averages,it allows for traders to make more impactful decisions on trades.
Trades for Polaris Industries Inc. (NYSE: PII) have ranged from $67.80 – 126.360, and the stock now has a 50-day MA of $88.12 and 200-day MA of $89.89. Today’s last price is 0.43% below the 52 week high of $126.36.
Earnings growth is a crucial factor to research when investing in stocks and investors identify companies that have grown their earnings at least 25% or more over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.