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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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Analyst Recommendations for Harley-Davidson (NYSE:HOG)

Harley-Davidson (HOG) Receives $50.47 Consensus Target Price from Analysts

Shares of Harley-Davidson (NYSE:HOG) have been assigned a consensus rating of “Hold” from the twenty-two research firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $50.47.

Several brokerages have recently commented on HOG. ValuEngine lowered shares of Harley-Davidson from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Longbow Research raised shares of Harley-Davidson from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 29th. Citigroup cut their target price on shares of Harley-Davidson from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Stifel Nicolaus cut their target price on shares of Harley-Davidson from $49.00 to $45.00 and set a “hold” rating on the stock in a research note on Friday, April 13th. Finally, Sanford C. Bernstein cut their target price on shares of Harley-Davidson from $52.00 to $45.00 and set a “market perform” rating on the stock in a research note on Monday, March 26th.

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Large investors have recently made changes to their positions in the business. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Harley-Davidson in the 1st quarter valued at approximately $103,000. Banco de Sabadell S.A purchased a new stake in shares of Harley-Davidson in the 1st quarter valued at approximately $127,000. Ballew Advisors Inc purchased a new stake in shares of Harley-Davidson in the 1st quarter valued at approximately $134,000. Rampart Investment Management Company LLC increased its position in shares of Harley-Davidson by 114.0% in the 1st quarter. Rampart Investment Management Company LLC now owns 4,932 shares of the company’s stock valued at $211,000 after purchasing an additional 2,627 shares during the last quarter. Finally, IFG Advisory LLC purchased a new stake in shares of Harley-Davidson in the 4th quarter valued at approximately $239,000. 95.87% of the stock is currently owned by institutional investors.

Shares of Harley-Davidson traded down $0.04, hitting $42.53, during trading hours on Friday, MarketBeat reports. The company had a trading volume of 87,057 shares, compared to its average volume of 2,760,973. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.96 and a current ratio of 1.11. Harley-Davidson has a fifty-two week low of $41.08 and a fifty-two week high of $41.44. The firm has a market cap of $7.04 billion, a P/E ratio of 12.15, a P/E/G ratio of 1.38 and a beta of 0.89.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Tuesday, April 24th. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.08 by $0.16. Harley-Davidson had a net margin of 10.31% and a return on equity of 32.45%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business posted $1.05 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. research analysts predict that Harley-Davidson will post 3.85 EPS for the current fiscal year.

Harley-Davidson announced that its Board of Directors has approved a share buyback plan on Monday, February 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, May 30th. Harley-Davidson’s dividend payout ratio is presently 42.29%.

About Harley-Davidson

Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services.

Analyst Recommendations for Harley-Davidson (NYSE:HOG)