Harley-Davidson Inc (HOG) Lifted to “Neutral” at Longbow Research
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Harley-Davidson from a hold rating to a sell rating in a report on Wednesday, December 21st. Royal Bank of Canada raised shares of Harley-Davidson from an underperform rating to a sector perform rating and raised their price target for the company from $46.00 to $57.00 in a report on Tuesday, November 15th. Northcoast Research reaffirmed a neutral rating on shares of Harley-Davidson in a report on Friday, November 18th. Goldman Sachs Group Inc reaffirmed a neutral rating and set a $57.00 price target on shares of Harley-Davidson in a report on Monday, December 19th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $59.00 price target (down from $61.00) on shares of Harley-Davidson in a report on Wednesday, February 1st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $55.41.
Shares of Harley-Davidson (NYSE:HOG) opened at 61.85 on Wednesday. The stock has a market capitalization of $10.80 billion, a PE ratio of 16.15 and a beta of 0.88. Harley-Davidson has a one year low of $41.63 and a one year high of $63.40. The stock has a 50 day moving average of $58.06 and a 200-day moving average of $56.71.
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Harley-Davidson (NYSE:HOG) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.04. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $972.47 million. Harley-Davidson had a net margin of 13.13% and a return on equity of 35.38%. Harley-Davidson’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 earnings per share. Equities analysts predict that Harley-Davidson will post $3.85 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Investors of record on Wednesday, February 15th were given a $0.365 dividend. The ex-dividend date was Monday, February 13th. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.35. This represents a $1.46 annualized dividend and a yield of 2.36%. Harley-Davidson’s dividend payout ratio (DPR) is currently 38.22%.
In other Harley-Davidson news, VP Joanne M. Bischmann sold 911 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $57.00, for a total transaction of $51,927.00. Following the transaction, the vice president now owns 2,195 shares of the company’s stock, valued at approximately $125,115. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Donald A. James sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $56.88, for a total transaction of $5,688,000.00. Following the transaction, the director now directly owns 5,523 shares in the company, valued at approximately $314,148.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,960 shares of company stock worth $5,912,378. 0.99% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in Harley-Davidson by 19.5% in the second quarter. Public Employees Retirement System of Ohio now owns 90,727 shares of the company’s stock valued at $4,110,000 after buying an additional 14,810 shares during the last quarter. IFP Advisors Inc boosted its position in Harley-Davidson by 10.9% in the second quarter. IFP Advisors Inc now owns 7,631 shares of the company’s stock valued at $346,000 after buying an additional 751 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Harley-Davidson by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,454 shares of the company’s stock valued at $429,000 after buying an additional 114 shares during the last quarter. Kentucky Retirement Systems bought a new position in Harley-Davidson during the second quarter valued at approximately $698,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Harley-Davidson during the second quarter valued at approximately $331,000. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
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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