Categories: Business

Baird builds warning on Harley Davidson after inauspicious supplier survey (NYSE:HOG)

[ad_1]

gokhanilgaz

Checks with Harley-Davidson (NYSE:HOG) sellers forward of the corporate’s third quarter report left Baird with a much less bullish outlook, in response to a word launched on Wednesday.

The analysis word mirrored frustration amongst sellers about persistently lean stock ranges and slowing gross sales amid a harder macro backdrop. Moreover, after-effects of the manufacturing halt within the spring are apparently nonetheless being felt, with an anticipated backlog of shipments and gross sales not being realized.

“One supplier informed us, ‘The one pattern adversely impacting retail gross sales is the Motor Firm’s continued incapacity to ship new MY2022 items as scheduled. We’re nonetheless awaiting cargo of recent items that had been scheduled to be shipped in June – inexcusable!’,” the word learn.

72% of sellers contacted mentioned the stock ranges stay too low, whereas many extra lamented the missed alternatives by way of summer time gross sales. General, the survey mirrored considerably adverse sentiment amongst sellers on the 3-5 12 months outlook for gross sales.

Given these dynamics, Baird diminished EPS estimates for the approaching quarters, whereas reassessing the worth of LiveWire, which it warned will stay unstable. The agency took its value goal to $35 from a previous $45, however retained an “Outperform” ranking on the inventory.

Shares of Harley Davidson (HOG) fell 2.24% shortly earlier than the market shut on Wednesday. The decline on the day lowered the inventory into the purple on a 12 months thus far foundation.

Learn extra on LiveWire Group’s (LVWR) current market debut.

[ad_2]
Source link
admin

Recent Posts

The particular Rise of Dodo69 Video game titles Community

Hey there, fellow video game enthusiast! Have you heard about the hottest buzz in the…

2 days ago

Basement Waterproofing with Epoxy Flooring: A Must-Have for Murrieta Homeowners

Basement waterproofing is a critical account for homeowners in Murrieta, CA, and for good reason.…

4 days ago

Studying the World of Terong123 Games

Here you are in the thrilling universe of Terong123 Games! Imagine walking into a realm…

5 days ago

Unique Home Decor Shops in Fort Worth

Hello to both Fort Worth locals and those just passing through! If your living space…

5 days ago

The Fascinating World of Long-Necked Cats

First, let's clarify what we mean by "long-necked cats." We're talking about decorative figurines or…

6 days ago

Tips for Winning the Cambodia Lottery

Hey there! So, you're interested in trying your luck with the Cambodia Lottery. Well, you're…

6 days ago