DAVIDSON: Motorcycle shipments fell by 14.7%

Johnson & Johnson earnings

By Kityvankova , via Wikimedia Commons

USA motorcycle maker Harley-Davidson Inc kept its 2017 outlook unchanged despite its first-quarter shipments hitting the high end of its forecast.

First-quarter profit per share fell 23 percent to $1.05, topping analysts' average estimate for $1.02, and the company reiterated its full-year forecasts for operating and gross margins to be in line with last year's results. It reported revenue of $1.33 billion, down from $1.58 billion in the year-earlier period and below the FactSet consensus of $1.37 billion. Independent Franchise Partners LLP now owns 8,745,188 shares of the company's stock worth $459,909,000 after buying an additional 127,052 shares in the last quarter. Insiders sold a total of 103,960 shares of company stock valued at $5,912,378 in the last 90 days. After a recent check, company stock has been trading near the $59.51 mark. Finally, Stifel Nicolaus reaffirmed a "hold" rating and set a $63.00 target price (up previously from $58.00) on shares of Harley-Davidson in a research report on Friday.

In an overview of the current analyst recommendations, Buy count is 3 and Overweight is 1 while the number of analysts recommending Sell and Underweight are 1 and 0, respectively. Shares of Harley-Davidson, Inc. are now valued at $56.79 with a furture target price of $60.18 according to research brokerages. The analyst recommendations from a month ago are 3 Buy, 1 Overweight, 2 Sell, 15 Hold and 0 Underweight.

Harley shares were down about 4% to $57.07 in Tuesday trading on Wall Street. Harley-Davidson presently has an average rating of "Hold" and a consensus price target of $56.47. "We are very pleased with our continued growth in USA market share and the progress our USA dealers made in reducing their inventory of 2016 motorcycles in the quarter".

Looking at the current price of the stock and the 52 week high and low, it suggests that the stock is likely to go Down in the future.

Revenue reported by Harley-Davidson Inc during its first quarter of 2017 was $1.33 billion. Over the past twelve months, Harley-Davidson, Inc. Stratos Wealth Partners LTD. boosted its position in Harley-Davidson by 1.7% in the third quarter. Insiders own 0.99% of the company's stock. Tower Research Capital LLC TRC now owns 3,818 shares of the company's stock valued at $201,000 after buying an additional 700 shares during the last quarter. At the end of the first quarter, 18.0 million shares remained on a board-approved share repurchase authorization.

Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.

Latest News