Harley-Davidson (NYSE:HOG) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Harley-Davidson (NYSE:HOG) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently issued reports on HOG. Citigroup reduced their price objective on shares of Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harley-Davidson in a research report on Thursday, January 22nd. Robert W. Baird set a $22.00 price target on Harley-Davidson in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Harley-Davidson in a report on Wednesday. Finally, Morgan Stanley set a $18.00 target price on shares of Harley-Davidson in a research note on Friday, January 16th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Harley-Davidson currently has an average rating of “Hold” and an average target price of $24.25.

Harley-Davidson Stock Performance

Shares of HOG opened at $20.42 on Thursday. Harley-Davidson has a one year low of $19.33 and a one year high of $31.25. The company has a market cap of $2.41 billion, a PE ratio of 7.82, a P/E/G ratio of 0.53 and a beta of 1.39. The stock has a 50-day moving average of $20.77 and a 200-day moving average of $24.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.10 and a quick ratio of 2.36.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($1.52). The firm had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company posted ($0.93) earnings per share. On average, equities research analysts predict that Harley-Davidson will post 3.44 EPS for the current fiscal year.

Harley-Davidson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Shareholders of record on Tuesday, December 9th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, December 9th. Harley-Davidson’s dividend payout ratio is 27.59%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HOG. Covestor Ltd boosted its position in Harley-Davidson by 6.7% during the third quarter. Covestor Ltd now owns 7,057 shares of the company’s stock worth $197,000 after purchasing an additional 442 shares during the period. Triumph Capital Management grew its position in shares of Harley-Davidson by 4.7% in the third quarter. Triumph Capital Management now owns 10,171 shares of the company’s stock valued at $284,000 after purchasing an additional 454 shares in the last quarter. Allworth Financial LP raised its stake in shares of Harley-Davidson by 13.7% during the 3rd quarter. Allworth Financial LP now owns 4,314 shares of the company’s stock valued at $120,000 after purchasing an additional 519 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Harley-Davidson by 139.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock worth $26,000 after purchasing an additional 549 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after acquiring an additional 579 shares during the period. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.