Earlier this year Harley-Davidson said shifting targeted production from the United States to global facilities could take up to 18 months to be completed.
Equities research analysts at Wedbush increased their FY2018 earnings per share estimates for shares of Harley-Davidson in a research report issued to clients and investors on Wednesday, July 25th, Zacks Investment Research reports.
He has already attacked the company's plans, threatening it with higher taxes. The 115-year old motorcycle manufacturer has been caught in a public relations firestorm since June, when it announced plans in June to move its European market production out of the USA because of retaliatory tariffs from the European Union.
A biker rides his Harley-Davidson during a parade in June 2018.
Harley-Davidson opened at $43.25 on Thursday, according to Marketbeat.
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Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles.
"Harley-Davidson is iconic because we've never been static", said Levatich. One of the Republicans vying to replace her, Kevin Nicholson, fired back at the incumbent Democrat, writing, "we do need better trade deals, not the ones engineered by you and other members of the political class".
Harley said it stands to lose as much as $100 million a year, and the company pledged to shift some of its production overseas so that it could avoid the added tariffs on motorcycles sold in the EU. Harley-Davidson has a consensus rating of Hold and a consensus target price of $48.23.
The company is considering making inroads in India and China, as the United States sales have dropped amid a lack of millennial buyers. Worldwide retail sales decreased 3.6 percent. With the focus of every employee and dealer, we are making progress building the next generation of Harley-Davidson riders in line with our long-term objectives. Cornerstone Capital Management Holdings LLC. raised its stake in Harley-Davidson by 8.0% during the fourth quarter. The company expects to fund strategic opportunities while maintaining its current investment and return profile and capital allocation strategy. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.