Polaris (PII)

• Market cap: $2.99B
• 1 day: -8.11%
• 5 days: 0.23%
• 1 month: 30.68%
• 3 months: 56.42%
• 6 months: 8.32%
• Year to date: -5.78%
• 1 year: -36.72%
• 5 years: -49.04%
• 10 years: -61.25%
• Sector: Consumer Discretionary
• Industry: Recreational Vehicles

About: Polaris designs and manufactures off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility purposes, snowmobiles, and on-road vehicles, including motorcycles, along with the related replacement parts, garments, and accessories. The firm entered the marine market after acquiring Boat Holdings in 2018, offering exposure to another segment of the outdoor lifestyle market. Polaris products are retailed through more than 2,500 dealers in North America and 1,500 international dealers as well as more than 25 subsidiaries and 90 distributors in more than 100 countries outside North America.

Employees: 15,000

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

74% more repeat investments, than reductions

Existing positions increased: 167 | Existing positions reduced: 96

50% more funds holding in top 10

Funds holding in top 10: 2 [Q4 2024] → 3 (+1) [Q1 2025]

6.34% more ownership

Funds ownership: 87.83% [Q4 2024] → 94.18% (+6.34%) [Q1 2025]

10% less funds holding

Funds holding: 427 [Q4 2024] → 384 (-43) [Q1 2025]

22% less call options, than puts

Call options by funds: $46.7M | Put options by funds: $60.1M

24% less capital invested

Capital invested by funds: $2.82B [Q4 2024] → $2.15B (-$669M) [Q1 2025]

39% less first-time investments, than exits

New positions opened: 60 | Existing positions closed: 98

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $27 49% downside
• Avg. target: $43 18% downside
• High target: $56 5% upside

6 analyst ratings

• positive: 0 0%
• neutral: 5 83%
• negative: 1 17%

BMO Capital Tristan Thomas-Martin	2% downside $52	Market Perform Maintained	30 Jul 2025
RBC Capital Sabahat Khan	5% upside $56	Sector Perform Maintained	30 Jul 2025
Baird Craig Kennison	4% upside $55	Neutral Maintained	30 Jul 2025
Roth Capital Scott Stember	23% downside $41	Neutral Maintained	23 Jul 2025
Citigroup James Hardiman	49% downside $27	Sell Maintained	16 Jun 2025