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Is Polaris a Buy?

The rich are different and spending like crazy, “Mad Money” host Jim Cramer said Tuesday. Just look at snowmobile-maker Polaris Industries.

“Despite an environment with no snow to speak of, Polaris is less than two points off its 52-week high,” he said.

The company recently reported a 2-cent earnings beat on substantially better-than-expected revenues that rose 26.5 percent year-over-year. However, management’s guidance for 2012 was below expectations. But that disappointing guidance didn’t hurt the stock—instead, it briefly dipped before rallying.

Cramer thinks that rebound says that investors think management’s guidance must be too conservative.

“Last year, they under-promised with guidance that was way too conservative and then blew away the numbers,” he said.

Cramer’s betting on a repeat performance for 2012 because Polaris has new products and a joint venture with Bobcat in the works. It is also building out is international business.

(Related: Playing the ‘Ultra-Discretionary’ Consumer)

Despite the fact that the stock has soared 67 percent over the last 12 months, he still thinks the stock is cheap—trading at 14 times earnings with a 17 percent long-term growth rate.

The bottom line—Polaris is a “terrific buy on any pullback.”

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