Although Harley-Davidson’s 2007 first-quarter sales report won’t be released until April 19, the company’s stock took a tumble in Monday trading on fears of a disappointing report.
Shares of Harley-Davidson closed Monday down 45 cents, or 0.7 percent, to $60.75 after UBS analyst Robin Farley said there are indications of weak sales for the company in January and February. Monday’s fall extends a slide of nearly 14 percent for Harley since the end of February.
Farley wrote that according to industry contacts Harley sales may be down 20 percent in January and 12 percent in February.
Farley said Monday the sales dip wasn’t a result of the plant worker strike last month, as dealers had adequate inventory. Instead, the figures are more worrisome because they could be evidence of an industry-wide slowdown, he said.Click here for reuse options!
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