This was a 85 dollar stock just 2 years ago. I think 2 macro factors that have been in their favor are now headwinds those being a weak dollar and consumer spending. I said before I think this will see 100 in the next 12 months. I'm pessimistic on the broader market and economy so this is not a PII specific story but I do think PII has extra exposure with their products being very discretionary.
PII is the one that has raised guidance the last few qtr's so don't blame it on the analysts. The stock is trading based on growth expectations that now look wrong so you're going to see a correction based on that. You don't get a PE of 21 just by making money, you need accelerating growth and earnings. Once that acceleration starts to slow, and that's what the numbers say when you look at margin and revenue, the PE has to come down (unless your amazon LOL). Now could this be 1 qtr? sure...but normally these trends run a long time. I think this stock test 100 in the new 12 months.