Harley-Davidson Inc (NYSE:HOG) stock was down on Tuesday following the release of its earnings report for the first quarter of 2017.
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The company's net income fell to $186.37 million, $1.05 per share, in the quarter, from $250.49 million, or $1.36 per share, a year earlier. In the same quarter a year ago, the consumer products company reported $17.48 billion in revenue.
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Harley's sluggish sales in the quarter highlighted challenges facing the manufacturer's attempts to gain new customers and boosting overseas sales. Following the transaction, the director now directly owns 5,523 shares in the company, valued at $314,148.24. Retail motorcycle sales fell 4.2% year over year globally, while US retail motorcycle sales fell 5.7% year over year, which the company said was in line with the industry. The company said the figures compared with strong prior year growth of 8.8 per cent and 16.3 per cent, respectively. Citigroup Inc reduced their target price on Harley-Davidson from $73.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, March 6th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the stock. Finally, Wedbush upped their target price on shares of Harley-Davidson from $53.00 to $55.00 and gave the company a neutral rating in a research report on Monday, April 3rd. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. Current price places the company's stock 13.47% away from its 200-day simple moving average, -4.1%, away from the 50-day average and also -1.56% away from 20-day average. Harley-Davidson has a consensus rating of Hold and a consensus target price of $56.47. Zacks Investment Research cut shares of Harley-Davidson from a "hold" rating to a "sell" rating in a research note on Wednesday, December 21st.
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Harley-Davidson has made progress trying to appeal to women and minorities, but the quarterly report is concerning, Alpert said. Harley-Davidson, Inc.'s stock price now sits at $56.79. The correct version of this news story can be accessed at https://baseballnewssource.com/markets/harley-davidson-inc-hog-raised-to-market-perform-at-raymond-james-financial-inc/618669.html. However, Harley-Davidson's USA market share for the quarter was 51.3 per cent in the 601cc-plus segment, up compared with the first quarter in 2016. The number of shares now owned by investors are 175.63 mln. Cpcm LLC purchased a new position in Harley-Davidson during the fourth quarter valued at $203,000. Gulf International Bank UK Ltd now owns 56,619 shares of the company's stock worth $3,425,000 after buying an additional 800 shares during the last quarter. The company has also been struggling to increase the operating income of the Financial Services segment.
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