Harley-Davidson (HOG) Downgraded by Goldman Sachs Group to “Hold”
Harley-Davidson (NYSE:HOG) was downgraded by equities researchers at Goldman Sachs Group to a “hold” rating in a report issued on Wednesday. They currently have a $43.00 target price on the stock. Goldman Sachs Group’s target price indicates a potential downside of 14.17% from the company’s current price.
HOG has been the topic of a number of other reports. Zacks Investment Research cut shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Wedbush set a $45.00 price objective on shares of Harley-Davidson and gave the company a “hold” rating in a research note on Sunday, October 8th. BMO Capital Markets reissued a “buy” rating and issued a $56.00 price objective on shares of Harley-Davidson in a research note on Friday, October 13th. UBS Group reissued a “hold” rating and issued a $47.00 price objective on shares of Harley-Davidson in a research note on Wednesday, September 13th. Finally, Argus raised shares of Harley-Davidson from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.82.
Shares of Harley-Davidson (NYSE:HOG) traded down $1.96 on Wednesday, hitting $50.10. 6,693,777 shares of the stock traded hands, compared to its average volume of 4,138,800. The company has a market capitalization of $8,430.00, a PE ratio of 15.71, a PEG ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.18 and a quick ratio of 1.03. Harley-Davidson has a 12 month low of $44.52 and a 12 month high of $63.40.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, October 17th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The business had revenue of $962.10 million for the quarter, compared to analysts’ expectations of $959.41 million. Harley-Davidson had a net margin of 11.68% and a return on equity of 28.69%. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. sell-side analysts forecast that Harley-Davidson will post 3.43 EPS for the current year.
In other news, CFO John A. Olin sold 28,760 shares of Harley-Davidson stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $48.03, for a total transaction of $1,381,342.80. Following the transaction, the chief financial officer now owns 65,722 shares in the company, valued at $3,156,627.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lawrence G. Hund sold 8,660 shares of Harley-Davidson stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $46.88, for a total transaction of $405,980.80. The disclosure for this sale can be found here. Insiders sold 58,726 shares of company stock worth $2,816,641 in the last 90 days. Company insiders own 0.70% of the company’s stock.
Large investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Harley-Davidson by 0.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,925 shares of the company’s stock worth $101,000 after purchasing an additional 5 shares during the period. Sandy Spring Bank lifted its holdings in Harley-Davidson by 84.4% in the third quarter. Sandy Spring Bank now owns 1,956 shares of the company’s stock valued at $103,000 after buying an additional 895 shares during the period. Mizuho Asset Management Co. Ltd. lifted its holdings in Harley-Davidson by 59.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,501 shares of the company’s stock valued at $113,000 after buying an additional 929 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Harley-Davidson by 344.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company’s stock valued at $141,000 after buying an additional 2,417 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Harley-Davidson in the third quarter valued at $166,000. Institutional investors own 97.18% of the company’s stock.
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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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