Polaris Raises Prices in Tough Marketplace, Implying Intact Competitive Edge; Shares Undervalued
Wide-moat Polaris continues to grow in a slowing market, with second-quarter results that included 18% sales growth (ahead of our 15% forecast) and a modest 2% earnings per share decline (to $1.73 versus our $1.54 forecast). The company was hindered by higher tariff costs but helped by a calculated effort to maintain its price leadership, even though that meant sacrificing some volume gains. While most of its segments performed in line with our sales estimates, both motorcycles and boats grew fa...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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