Harley-Davidson (HOG) Shares Decline On Citi Comments
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Rating Summary:
9 Buy, 15 Hold, 4 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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(Updated - June 26, 2017 3:54 PM EDT) (updated to expand analyst commentary)
Harley-Davidson (NYSE: HOG) shares decline in the afternoon on Monday following a comment on a conference call from Citi analyst Gregory Badishkanian. He commented that if HOG were to go ahead with the purchase to Ducati the company would likely no longer be able to do a stock buyback.
He further comments that dealers are seeing fairly negative trends in the second quarter with May coming in softer than April and there appears to be no positive inflection on the horizon for June. He buffers those negative comments by saying "small / midsized dealers as of mid-June were seeing improving trends through early to mid-June" with geographic and size difference potential driving some of the divergence.
HOG shares have rebounded somewhat from the initial drop from roughly $56.00 to a LOD of $54.09, currently trading around $55.00 heading into Monday's close of the regular session.
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