Shares of Harley-Davidson ( NYSE: HOG) were down 0.6% in Tuesday morning trading, while Polaris ( NYSE: PII) shed 2.3%. Brunswick Corporation ( NYSE: BC) was up 2.0%. For the early part of the year, Polaris ( PII) is the only one of the three leisure stocks in positive territory.

Morgan Stanley downgraded Harley-Davidson (NYSE:HOG) to "Equal-Weight" on limited upside despite expected improvements in affordability in 2025.