Harley-Davidson Earns Neutral Rating from Zacks (HOG)
Harley-Davidson (NYSE:HOG)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Friday. They currently have a $67.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 5.58% from the company’s current price.
Zacks’ analyst wrote, “Harley-Davidson recorded a 33.9% increase in earnings to $1.62 per share in the second quarter of 2014, beating the Zacks Consensus Estimate of $1.46. Consolidated revenues improved 11.7% to $2 billion, surpassing the Zacks Consensus Estimate of $1.84 billion. Harley-Davidson enjoys a significant share of the U.S. motorcycle market. The company’s sales are rising and efficient capital deployment is boosting shareholder value. Although restructuring initiatives have increased savings, we are concerned about the aging customer base, expensive products, declining operating income from Harley-Davidson Financial Services and intense competition. Hence, we are maintaining our Neutral recommendation. “
Shares of Harley-Davidson (NYSE:HOG) traded up 0.20% during mid-day trading on Friday, hitting $63.59. 268,282 shares of the company’s stock traded hands. Harley-Davidson has a 1-year low of $59.00 and a 1-year high of $74.13. The stock’s 50-day moving average is $63.92 and its 200-day moving average is $67.58. The company has a market cap of $13.847 billion and a P/E ratio of 16.35.
Harley-Davidson (NYSE:HOG) last released its earnings data on Tuesday, July 22nd. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.16. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Analysts expect that Harley-Davidson will post $3.79 EPS for the current fiscal year.
HOG has been the subject of a number of other recent research reports. Analysts at Argus downgraded shares of Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. They now have a $82.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Harley-Davidson in a research note on Monday, July 28th. They now have a $77.00 price target on the stock, down previously from $85.00. Finally, analysts at BMO Capital Markets cut their price target on shares of Harley-Davidson from $80.00 to $73.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Harley-Davidson has an average rating of “Hold” and a consensus target price of $72.88.
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (NYSE:HOG) and Harley-Davidson Financial Services (HDFS).
To view Zacks’ full report, visit Zacks’ official website.
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