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June 25, 2014
10:59 EDTBC, HOGHarley slides, Brunswick advances after ratings changes
Harley-Davidson (HOG) is falling and Brunswick (BC) is advancing after KeyBanc downgraded the shares of the motorcycle maker and upgraded the stock of the boat maker. WHAT'S NEW: There have been indications of "sluggish" motorcycle sales trends so far this year, KeyBanc analyst Brett Andress wrote in a note to investors earlier today. The trends appear to be "essentially flat," the analyst stated. Andress believes that Harley-Davidson performed better than the industry as a whole this quarter, as he estimates that the company's sales rose by low single digit percentage levels. Still, that is below the motorcycle maker's full-year guidance for a 7%-9% increase in shipments, the analyst noted. He downgraded his rating on the shares to Hold from Buy. Conversely, Brunswick should benefit from "modest, sustained momentum" in overall boat sales and a strong rebound in sales of its flagship SeaRay boats, the analyst believes. Andress cited positive registration data and anecdotes from retailers as two reasons for his optimism about the SeaRay line. Sales of the boats could double by 2017 to about $600M, he estimated. However, supply constraints may keep newer versions of the SeaRay line from coming on the market until the second half of 2014 or the first half of next year, so 2014 may be more of a transitional year for Brunswick, Andress warned. However, Brunswick's stock more adequately reflects this dynamic following its recent decline, according to the analyst, who upgraded the shares to Buy from Hold and set a $55 price target on the stock. PRICE ACTION: In mid-morning trading, Harley-Davidson dropped 1.2% to $69.85 and Brunswick gained 2% to $41.64.
News For BC;HOG From The Last 14 Days
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October 2, 2014
07:55 EDTBCBrunswick remains a top idea for long-term investors, says RW Baird
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October 1, 2014
06:11 EDTHOGHarley-Davidson Q3 underlying fundamentals solid, says William Blair
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September 29, 2014
15:53 EDTHOGHarley-Davidson recalls to have minimal impact, says Wells Fargo
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13:49 EDTHOGHarley-Davidson recalls 2015 XG500, XG750 motorcycles
Harley-Davidson is recalling certain model year 2015 XG500 and XG750 motorcycles manufactured June 11 to August 14. The fuel tank filler neck may be insufficiently flat, preventing the fuel cap from sealing properly. If the fuel cap doesn't properly seal, fuel may leak, increasing the risk of a vehicle fire. Harley-Davidson will notify owners, and dealers will inspect the motorcycle and test to see if fuel can leak from under the fuel cap. Any motorcycle that leaks fuel from under the fuel cap will have its gas tanked replaced, free of charge. The recall began in late September. Reference Link
07:36 EDTHOGHarley-Davidson recalls over 105K 2014 model motorcycles
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September 26, 2014
10:27 EDTBCBrunswick names Foulkes CTO
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10:26 EDTBCBrunswick names Foulkes CTO
10:01 EDTBC, HOGOn The Fly: Analyst Initiation Summary
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06:54 EDTBCBrunswick initiated with a Buy at Wunderlich
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06:53 EDTHOGHarley-Davidson initiated with a Hold at Wunderlich
Target $57.
September 25, 2014
05:59 EDTHOGHarley-Davidson Q3 retail sales tracking up 3.7%, says Wells Fargo
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September 22, 2014
09:57 EDTBCBrunswick management to meet with SunTrust
Meeting to be held in Denver on September 24 hosted by SunTrust.
07:35 EDTHOGHarley-Davidson retail sales improved in August from July, says UBS
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07:29 EDTBCLongbow to hold a conference
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September 18, 2014
14:09 EDTBCBrunswick expects net proceeds of $270M-$290M from retail bowling divestitures
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06:12 EDTHOGNHTSA approves Michigan request to buy foreign-made motorcycles
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