Harley-Davidson Stock Rating Reaffirmed by Zacks (HOG)
Harley-Davidson (NYSE:HOG)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday, Analyst RN reports. They currently have a $68.00 target price on the stock. Zacks‘ target price would indicate a potential upside of 5.08% from the stock’s previous close.
Zacks‘ analyst wrote, “Harley-Davidson’s third-quarter earnings per share rose 23.7% to $0.73, beating the Zacks Consensus Estimate by $0.014. Consolidated revenues of $1.34 billion also topped the Zacks Consensus Estimate of $1.16 billion. The improvements were due to increase in motorcycle shipments and continued improvement in operating efficiencies of plants. The company expects global shipments of 259,000 to 264,000 motorcycles in 2013, a 4.5%-6.5% increase from 2012. While the company enjoys benefits of scale, we are concerned about its aging customer base, expensive products and strong competition. As such, we continue with our Neutral recommendation and set a target price of $68.00.”
A number of other analysts have also recently weighed in on HOG. Analysts at BMO Capital Markets cut their price target on shares of Harley-Davidson from $74.00 to $72.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Ned Davis Research downgraded shares of Harley-Davidson from a “buy” rating to a “neutral” rating in a research note to investors on Monday. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Harley-Davidson in a research note to investors on Thursday, October 10th. They now have a $71.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Harley-Davidson currently has a consensus rating of “Buy” and a consensus price target of $62.86.
Shares of Harley-Davidson (NYSE:HOG) traded down 1.07% on Wednesday, hitting $64.02. 818,934 shares of the company’s stock traded hands. Harley-Davidson has a 1-year low of $40.59 and a 1-year high of $63.74. The stock has a 50-day moving average of $59.51 and a 200-day moving average of $55.48. The company has a market cap of $14.280 billion and a price-to-earnings ratio of 20.89.
Harley-Davidson (NYSE:HOG) last released its earnings data on Tuesday, October 22nd. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Harley-Davidson will post $3.30 earnings per share for the current fiscal year.
Harley-Davidson, Inc produces heavyweight cruiser and touring motorcycles. HDFS provides wholesale and retail financing and insurance programs primarily to Harley-Davidson dealers and customers.
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