Harley-Davidson, Inc. (NYSE:HOG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Harley-Davidson has been improving its financial position. Additionally, the company is focused on geographical and product expansion as well as increasing shareholder returns. The company Harley-Davidson is working towards improving its international reach and expects an increase of 50% of yearly volume by 2027. However, an unfavorable outlook for retail sales and margins, and weakness in the Financial Services segment pose concerns for the company. Harley-Davidson has underperformed the industry it belongs to over the last six months.”
A number of other research firms have also recently weighed in on HOG. Morgan Stanley decreased their price objective on Harley-Davidson from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. UBS AG reaffirmed a “hold” rating and set a $47.00 price objective on shares of Harley-Davidson in a research report on Wednesday, September 13th. ValuEngine cut Harley-Davidson from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus decreased their price objective on Harley-Davidson from $61.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, July 14th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $62.00 price objective on shares of Harley-Davidson in a research report on Wednesday, June 7th. Two research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.94.
Harley-Davidson (NYSE:HOG) traded down 0.54% during midday trading on Tuesday, hitting $48.30. The company had a trading volume of 342,432 shares. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 14.14 and a beta of 0.86. Harley-Davidson has a 12 month low of $45.53 and a 12 month high of $63.40. The firm has a 50-day moving average price of $47.58 and a 200-day moving average price of $53.63.
Harley-Davidson (NYSE:HOG) last announced its earnings results on Tuesday, July 18th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.10. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.60 billion. Harley-Davidson had a return on equity of 30.51% and a net margin of 12.30%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.55 EPS. Equities analysts anticipate that Harley-Davidson will post $3.39 EPS for the current year.
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In other news, insider Lawrence G. Hund sold 15,013 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $47.18, for a total transaction of $708,313.34. Following the sale, the insider now owns 23,673 shares in the company, valued at $1,116,892.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Wayne Hummer Investments L.L.C. acquired a new position in Harley-Davidson in the first quarter valued at $200,000. Independent Advisor Alliance boosted its holdings in Harley-Davidson by 491.5% in the first quarter. Independent Advisor Alliance now owns 3,336 shares of the company’s stock valued at $200,000 after acquiring an additional 2,772 shares during the last quarter. Northside Capital Management LLC acquired a new position in Harley-Davidson in the first quarter valued at $218,000. Pacer Advisors Inc. boosted its holdings in Harley-Davidson by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,698 shares of the company’s stock valued at $224,000 after acquiring an additional 117 shares during the last quarter. Finally, Geneva Advisors LLC boosted its holdings in Harley-Davidson by 5.4% in the second quarter. Geneva Advisors LLC now owns 3,937 shares of the company’s stock valued at $213,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
Harley-Davidson Company Profile
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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