Harley-Davidson: About To Run Out Of Gas
James Stefurak, CFA • 23 Comments
James Stefurak, CFA • 23 Comments
Wed, Sep. 21, 12:09 PM
Wed, Sep. 21, 12:00 PM
Fri, Sep. 9, 7:54 AM
Thu, Sep. 8, 8:59 AM
- BMO Capital reiterates an Outperform rating on Harley-Davidson (NYSE:HOG) after hearing that dealers are giving the new Milwaukee-Eight engine a positive assessment.
- The Milwaukee-Eight is only the ninth engine in Harley's history.
- Early reviews from websites such as Motorcycle.com and Jalopnik have been very favorable.
- BMO has a price target of $66 on HOG vs. yesterday's close of $52.71.
Fri, Sep. 2, 7:49 AM
- Harley-Davidson (NYSE:HOG) plans to cut about 200 positions as the company adjusts its production schedule to a lower forecast for motorcycle shipments in 2016.
- In July, the manufacturer reduced its shipment guidance to a range of 264K-269K motorcycles, from 269K-274K bikes.
- Most of the layoffs are scheduled for the fourth quarter.
Mon, Aug. 29, 8:50 AM| Mon, Aug. 29, 8:50 AM | 1 Comment
Thu, Aug. 18, 11:45 AM
- Harley-Davidson (HOG -1.2%) announces it struck a settlement with the U.S. Environmental Protection Agency regarding the sale of one aftermarket tuning product used to calibrate motorcycles intended for off-road and closed-course competition.
- The company says it agreed stop selling a competition-only tuner in the U.S. The company will continue to sell a performance tuner designed to ensure Harley-Davidson motorcycles retain 50-state and EPA on-road emissions compliance.
- "This settlement is not an admission of liability but instead represents a good faith compromise with the EPA on areas of law we interpret differently, particularly EPA's assertion that it is illegal for anyone to modify a certified vehicle even if it will be used solely for off-road/closed-course competition," says Harley exec Ed Moreland.
- Source: Press Release
Mon, Aug. 1, 8:46 AM
- BMO Capital upgrades Harley-Davidson (NYSE:HOG) to Outperform from Market Perform.
- The investment firm sees Harley as a nice contrarian play with too much attention paid to the short-term drop in shipments guidance from the company. Harley management is still positive on its long-term track towards improved profit, notes BMO.
- HOG +1.15% premarket to $53.53.
Fri, Jul. 29, 7:42 AM
Thu, Jul. 28, 7:29 AM
- Harley-Davidson (NYSE:HOG) reports global retail motorcycle sales fell 1.9% in Q2.
- Retail sales in the U.S. fell 5.2% during the quarter, although Harley-Davidson's market share improved two percentage points to 49.5% with the overall market weak.
- Gross margin rate fell 280 bps to 36.4%.
- The company lowers full-year shipments guidance to 264K to 269K motorcycles.
- Previously: Harley-Davidson beats by $0.01, revenue in-line (July 28)
- HOG -0.36% premarket to $50.40.
Thu, Jul. 28, 6:59 AM
Wed, Jul. 27, 5:30 PM
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Fri, Jul. 15, 9:08 AM
- Stifel Nicolaus downgrades Harley-Davidson (NYSE:HOG) to a Hold rating after having the motorcycle seller set at Buy.
- There's been a slow erosion of confidence from Wall Street on Harley this summer which has left only 3 out of 17 investment firms still in the bull camp (Citigroup, UBS, Morgan Stanley).
- On Seeking Alpha, the consensus seems to be leaning the same way with the KKR rumor premium cited as a concern
- HOG -2.14% premarket to $47.50.
Tue, Jul. 12, 8:01 AM| Tue, Jul. 12, 8:01 AM | 8 Comments
Fri, Jul. 8, 12:40 PM
- Channel checks by investment firms on Harley-Davidson's (HOG +2.2%) Q2 are sputtering in. The soft read for the quarter has increased concerns on the motorcycle seller's ability to hit its longer-term targets. The resurgence of the Indian brand (NYSE:PII) is on the mind of analysts.
- Raymond James: "With product availability now substantially improved, we expect Indian will remain the biggest headwind to Harley’s market share, compounded by a growing dealer network and model count (Indian currently sells only 9 models in limited segments, vs 40+ at Harley)."
- Wedbush: "Even beyond 2Q, Harley-Davidson faces operational risk in the form of the July K.C. plant IT conversion to SAP and competitive risk in the form of new bikes from Indian and used Harley-Davidson bikes."
- Harley-Davidson's Q2 report is due out on July 28.
Tue, Jul. 5, 12:00 PM