Market Overview

KeyBanc: Harley-Davidson Registration Numbers Show Cold Start To 2019

Share:
KeyBanc: Harley-Davidson Registration Numbers Show Cold Start To 2019

Harley-Davidson Inc (NYSE: HOG) has been rather quiet since its January earnings miss, and one analyst team expects continued coasting.

The Analyst 

KeyBanc Capital Markets analyst Brett Andress maintained a Sector Weight rating on Harley-Davidson.

The Thesis

By KeyBanc’s assessment, Harley-Davidson’s international growth continues to slow.

Countries accounting for 70 percent of the global market recorded a 19.2-percent decline in Harley registrations this January, Andress said in a Thursday note. Last year, registrations rose 19.1 percent over the same period.

“While one month does not make a trend, January declines in our monthly reporting countries came in worse than we anticipated, though compares do ease meaningfully in [February and March]," the analyst said. 

The Asia-Pacific region saw broad-based drops for a second consecutive month, including a high-double-digit decline in India.

Latin America sales moderated — with particular weakness in Brazil — and Western Europe reported softness as the U.K. suffered pressure.

“Flowing monthly trends forward (and assuming sustained trends in quarterly-reporting countries) puts our index in the mid single-digit/high single-digit range for [the first quarter of 2019], implying HOG's reported international retail in the low single-digit/mid single-digit range," Andress said. 

Harley-Davidson’s next quarterly report is slated for release April 23.

Price Action

Harley-Davidson shares were up 0.43 percent at $37.43 at the close Thursday and were trading slightly higher premarket Friday. 

Related Links:

Morgan Stanley: Harley-Davidson Has Better Odds In SUVs Than Electric Bikes

'Easy Rider,' Harder Sell For Young People: UBS Asks Whether Harley-Davidson's Moment Has Passed

Latest Ratings for HOG

DateFirmActionFromTo
Oct 2019MaintainsNeutral
Jul 2019MaintainsOverweight
Apr 2019MaintainsOverweightOverweight

View More Analyst Ratings for HOG
View the Latest Analyst Ratings

Posted-In: brett Andress KeyBanc Capital MarketsAnalyst Color Reiteration Analyst Ratings Best of Benzinga

 

Related Articles (HOG)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
SAILCanaccord GenuityMaintains18.0
UNHUBSMaintains257.0
UGIUBSMaintains58.0
LLYUBSMaintains133.0
JAGUBSMaintains9.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

ExxonMobil Announces Partnership With Microsoft For Its Permian Basin Operations

The Daily Biotech Pulse: BioMarin Slips On Earnings, TherapeuticsMD Posts In-Line Results, Orchard To Present Immunodeficiency Drug Data