NEW YORK (TheStreet) -- Harley-Davidson (HOG) is recalling over 3,000 motorcycles to fix an ignition switch issue that can cause the bikes to stall and crash, according to the U.S. National Highway Transportation Safety Administration, Reuters reports.
The company told NHTSA that excessive engine vibrations could trigger the issue, which it said affects 3,361 of its 2014 FXDL Dyna Low Rider motorcycles.
This is the second major recall Harley-Davidson has been forced to make this summer, its peak selling season, Reuters noted.
Last week, the company lowered its full year forecast for motorcycle shipments, citing weaker-than-expected U.S. retail sales and a delay in getting its newest bikes into dealer showrooms.
Shares of Harley-Davidson are currently up 0.02% to $61.83
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, compelling growth in net income, revenue growth, notable return on equity and expanding profit margins. 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."