Zacks Investment Research upgraded shares of Harley-Davidson (NYSE:HOG) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $57.00 price objective on the stock.
According to Zacks, “Over the past 60 days, the Zacks Consensus Estimate for Harley-Davidson’s quarterly estimates has been going up of late. The company is making long-term investments with an aim to expand its product portfolio and market its products. This strategy is expected to drive customer growth for the company. Also, an improved financial position enables it to pay dividends and boost shareholder confidence in Harley-Davidson. However, continuous decline in worldwide retail sales, macroeconomic challenges in some regions as well as higher manufacturing costs are a few concerns for the company. Also, in the last six months, Harley-Davidson’s shares have underperformed the industry it belongs to.”
HOG has been the topic of several other research reports. Wedbush set a $45.00 price target on shares of Harley-Davidson and gave the company a hold rating in a report on Sunday, October 8th. BMO Capital Markets restated a buy rating and issued a $56.00 price target on shares of Harley-Davidson in a report on Friday, October 13th. Goldman Sachs Group restated a hold rating on shares of Harley-Davidson in a report on Sunday, October 15th. Argus upgraded shares of Harley-Davidson from a hold rating to a buy rating and set a $53.00 price target on the stock in a report on Friday, October 20th. Finally, UBS Group restated a hold rating and issued a $47.00 price target on shares of Harley-Davidson in a report on Wednesday, September 13th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $52.82.
Shares of Harley-Davidson (HOG) traded up $0.87 during mid-day trading on Tuesday, hitting $50.97. 3,137,300 shares of the stock traded hands, compared to its average volume of 3,804,967. The stock has a market cap of $8,580.00, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.59 and a beta of 0.96. Harley-Davidson has a 1-year low of $44.52 and a 1-year high of $63.40. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.03 and a current ratio of 1.18.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, October 17th. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Harley-Davidson had a net margin of 11.68% and a return on equity of 28.69%. The business had revenue of $962.10 million for the quarter, compared to analyst estimates of $959.41 million. During the same period in the prior year, the firm posted $0.64 EPS. The company’s revenue was down 11.9% on a year-over-year basis. equities analysts expect that Harley-Davidson will post 3.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 15th were paid a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.86%. Harley-Davidson’s dividend payout ratio is currently 45.77%.
In other news, CEO Matthew S. Levatich sold 19,447 shares of Harley-Davidson stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $48.36, for a total transaction of $940,456.92. Following the sale, the chief executive officer now owns 88,646 shares in the company, valued at $4,286,920.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John A. Olin sold 28,760 shares of Harley-Davidson stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $48.03, for a total transaction of $1,381,342.80. Following the sale, the chief financial officer now owns 65,722 shares in the company, valued at approximately $3,156,627.66. The disclosure for this sale can be found here. Insiders have sold 58,726 shares of company stock worth $2,816,641 in the last quarter. Insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of Harley-Davidson during the third quarter valued at approximately $166,000. TLP Group LLC acquired a new stake in shares of Harley-Davidson during the second quarter worth approximately $255,000. Parametrica Management Ltd acquired a new stake in shares of Harley-Davidson during the third quarter worth approximately $269,000. IFM Investors Pty Ltd acquired a new stake in shares of Harley-Davidson during the third quarter worth approximately $280,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of Harley-Davidson by 22.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,080 shares of the company’s stock worth $294,000 after buying an additional 1,100 shares in the last quarter. Institutional investors own 97.18% of the company’s stock.
Harley-Davidson Company Profile
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.
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