Vetr downgraded shares of Harley-Davidson Inc. (NYSE:HOG) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning. They currently have $51.00 target price on the stock.
A number of other analysts have also weighed in on HOG. Goldman Sachs Group Inc. lowered shares of Harley-Davidson from a buy rating to a neutral rating and dropped their target price for the stock from $55.00 to $50.00 in a report on Monday, June 6th. Citigroup Inc. restated a buy rating and issued a $51.00 price objective on shares of Harley-Davidson in a report on Monday, June 13th. Longbow Research restated a hold rating on shares of Harley-Davidson in a report on Wednesday, June 15th. TheStreet lowered shares of Harley-Davidson from a buy rating to a hold rating in a report on Tuesday, June 14th. Finally, Robert W. Baird lowered shares of Harley-Davidson from an outperform rating to a neutral rating and set a $54.00 price objective for the company. in a report on Tuesday, July 5th. Five investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $51.16.
Harley-Davidson (NYSE:HOG) opened at 50.00 on Tuesday. The stock has a market cap of $9.03 billion, a P/E ratio of 13.30 and a beta of 1.05. Harley-Davidson has a 52 week low of $36.36 and a 52 week high of $57.33. The stock has a 50 day moving average price of $52.10 and a 200-day moving average price of $48.95.
Harley-Davidson (NYSE:HOG) last posted its earnings results on Thursday, July 28th. The company reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.01. The company earned $1.86 billion during the quarter, compared to analyst estimates of $1.67 billion. Harley-Davidson had a net margin of 13.23% and a return on equity of 34.33%. Harley-Davidson’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. On average, equities analysts anticipate that Harley-Davidson will post $3.87 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Tuesday, September 13th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Friday, September 9th. Harley-Davidson’s dividend payout ratio is presently 36.65%.
In other news, insider Lawrence G. Hund sold 12,537 shares of Harley-Davidson stock in a transaction on Friday, August 5th. The shares were sold at an average price of $53.23, for a total transaction of $667,344.51. Following the transaction, the insider now owns 16,922 shares in the company, valued at approximately $900,758.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Paul J. Jones sold 2,517 shares of Harley-Davidson stock in a transaction on Friday, August 19th. The stock was sold at an average price of $54.03, for a total transaction of $135,993.51. The disclosure for this sale can be found here. Insiders own 0.99% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Harley-Davidson by 46.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,702,359 shares of the company’s stock worth $530,116,000 after buying an additional 3,703,199 shares during the period. Dodge & Cox boosted its position in Harley-Davidson by 1.1% in the second quarter. Dodge & Cox now owns 9,425,983 shares of the company’s stock worth $426,997,000 after buying an additional 98,250 shares during the period. Independent Franchise Partners LLP boosted its position in Harley-Davidson by 3.4% in the second quarter. Independent Franchise Partners LLP now owns 8,618,136 shares of the company’s stock worth $390,401,000 after buying an additional 284,805 shares during the period. State Street Corp boosted its position in Harley-Davidson by 2.9% in the second quarter. State Street Corp now owns 8,274,099 shares of the company’s stock worth $374,834,000 after buying an additional 236,451 shares during the period. Finally, Harris Associates L P boosted its position in Harley-Davidson by 163.3% in the second quarter. Harris Associates L P now owns 7,918,594 shares of the company’s stock worth $358,713,000 after buying an additional 4,911,620 shares during the period. Institutional investors and hedge funds own 94.90% of the company’s stock.
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 l Harley-Davidson motorcycles, as well as a line of motorcycle parts, accessories, general merchandise and related services.
To view Vetr’s full report, visit Vetr’s official website.
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