Polaris Shutters Victory Operation to Improve Competitive Position; Shares Undervalued
Wide-moat Polaris announced that it will be closing its Victory segment, which was the company’s entry into the motorcycle market in 1998. With the success of Indian and Slingshot overtaking the growth in the motorcycle segment, we aren’t particularly disappointed that Victory was chosen as a wind-down, since it represented only 3% of company sales in 2015, or less than $150 million, after more than 15 years. By our estimate, Indian has outstripped this amount handily, selling more than $250 mil...Polaris designs, engineers and manufactures powersports vehicles which include, off-road vehicles, including all-terrain vehicles and side-by-side vehicles for recreational and utility use, snowmobiles, motorcycles, global adjacent markets vehicles, including commercial, government and defense vehicles, and boats. The company's products, together with related Parts, Garments and Accessories, as well as aftermarket accessories and apparel, are sold through dealers, distributors and retail stores principally located in the United States, Canada, Western Europe, Australia and Mexico.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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