NEW YORK (TheStreet) -- Harley-Davidson (HOG) shares tumbled today, down -1.5% to $69.56, after being downgraded to "hold" from "buy" by analysts at KeyBanc this morning.
The firm noted sluggish motorcycle sales trends that remain essentially flat as a reason for the more pessimistic outlook, while also noting that Harley-Davidson outperformed the industry this quarter.
The company unveiled its new electric motorcycle dubbed "Project LiveWire" yesterday in an effort to expand its customer base.
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TheStreet Ratings team rates HARLEY-DAVIDSON INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HARLEY-DAVIDSON INC (HOG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, revenue growth, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."