Story updated at 9:50 a.m. to reflect market activity.
Polaris Industries fell -2.4% to $128.37 in morning trading.
The firm reiterated its "buy" rating for the stock. UBS analysts Robin M. Farley and Arpine Kocharyan said the increase was driven by a ramp up of Indian motorcycle dealers and Polaris adding production capacity for ACE.
"Polaris reiterated its guidance for motorcycle shipments to be up 65-75% on a FY basis, so Q1 is below that run rate but given the increase in dealers as we move through the year, & seasonality of bike sales, it is reasonable to expect to see much higher increases in Q2 and Q3," the analysts wrote.
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Separately, TheStreet Ratings team rates POLARIS INDUSTRIES INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate POLARIS INDUSTRIES INC (PII) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, growth in earnings per share, notable return on equity, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."