Harley-Davidson (NYSE:HOG) Price Target Cut to $54.00 by Analysts at Wedbush

Harley-Davidson (NYSE:HOG) had its target price cut by Wedbush from $60.00 to $54.00 in a report issued on Thursday morning, The Fly reports. They currently have an outperform rating on the stock. The analysts noted that the move was a valuation call.

Other research analysts have also issued research reports about the stock. Citigroup upped their price target on shares of Harley-Davidson from $39.00 to $55.00 and gave the company a buy rating in a research note on Monday, May 17th. Royal Bank of Canada reduced their price target on shares of Harley-Davidson from $48.00 to $41.00 and set a sector perform rating on the stock in a research report on Thursday, July 22nd. Edward Jones downgraded shares of Harley-Davidson from a hold rating to a sell rating and set a $39.59 price objective for the company. in a research note on Tuesday, July 27th. increased their price objective on shares of Harley-Davidson from $39.00 to $55.00 and gave the company a buy rating in a research note on Monday, May 17th. Finally, Morgan Stanley raised their price target on shares of Harley-Davidson from $38.00 to $40.00 and gave the company an underweight rating in a research note on Thursday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Harley-Davidson presently has a consensus rating of Hold and a consensus price target of $48.41.

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Shares of HOG stock opened at $37.10 on Thursday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.16 and a current ratio of 1.30. The firm’s 50-day moving average is $40.88 and its 200-day moving average is $42.65. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.43 and a beta of 1.46. Harley-Davidson has a 52-week low of $22.56 and a 52-week high of $52.06.

Harley-Davidson (NYSE:HOG) last issued its earnings results on Tuesday, July 20th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.24. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Harley-Davidson had a net margin of 10.53% and a return on equity of 29.87%. Harley-Davidson’s quarterly revenue was up 128.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.60) EPS. Sell-side analysts predict that Harley-Davidson will post 3.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Friday, September 10th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.62%. The ex-dividend date is Thursday, September 9th. Harley-Davidson’s dividend payout ratio is currently 77.92%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOG. AMG National Trust Bank raised its position in Harley-Davidson by 1.2% in the 2nd quarter. AMG National Trust Bank now owns 24,896 shares of the company’s stock valued at $1,141,000 after purchasing an additional 294 shares in the last quarter. Shelton Capital Management increased its position in Harley-Davidson by 4.6% during the second quarter. Shelton Capital Management now owns 8,141 shares of the company’s stock worth $373,000 after buying an additional 359 shares during the period. Wedbush Securities Inc. increased its position in Harley-Davidson by 4.6% during the second quarter. Wedbush Securities Inc. now owns 8,301 shares of the company’s stock worth $380,000 after buying an additional 368 shares during the period. HighTower Advisors LLC increased its position in Harley-Davidson by 5.4% during the second quarter. HighTower Advisors LLC now owns 7,461 shares of the company’s stock worth $341,000 after buying an additional 379 shares during the period. Finally, Berman Capital Advisors LLC increased its position in Harley-Davidson by 55.3% during the first quarter. Berman Capital Advisors LLC now owns 1,132 shares of the company’s stock worth $45,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc is engaged in the manufacture and sale of custom, cruiser and touring motorcycles. It operates through the following segments: Motorcycles & Related Products; and Financial Services. The Motorcycles & Related Products segment manufactures, designs, and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services.

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