Zacks Research Downgrades Harley-Davidson (NYSE:HOG) to Strong Sell

Harley-Davidson (NYSE:HOG) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

HOG has been the subject of several other research reports. Morgan Stanley set a $18.00 price target on Harley-Davidson in a research report on Friday, January 16th. DA Davidson reduced their price objective on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harley-Davidson in a report on Thursday, January 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 target price on shares of Harley-Davidson in a research note on Wednesday. Finally, UBS Group reduced their price target on shares of Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.25.

Harley-Davidson Stock Performance

Shares of HOG opened at $20.42 on Thursday. The company has a quick ratio of 2.36, a current ratio of 2.10 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2.41 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.53 and a beta of 1.39. The business’s 50 day moving average price is $20.77 and its 200-day moving average price is $24.69. Harley-Davidson has a 52 week low of $19.33 and a 52 week high of $31.25.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings data 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). Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The company had revenue of $496.16 million for the quarter, compared to the consensus estimate of $482.21 million. During the same period last year, the business earned ($0.93) EPS. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. Equities research analysts anticipate that Harley-Davidson will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Harley-Davidson

A number of hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Harley-Davidson by 62.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company’s stock worth $2,183,000 after buying an additional 33,097 shares during the last quarter. Empowered Funds LLC increased its position in Harley-Davidson by 18.3% during the first quarter. Empowered Funds LLC now owns 17,560 shares of the company’s stock valued at $443,000 after acquiring an additional 2,712 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Harley-Davidson by 153.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after acquiring an additional 1,278 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Harley-Davidson by 72.5% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,640 shares of the company’s stock valued at $605,000 after acquiring an additional 10,773 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Harley-Davidson in the second quarter worth about $641,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

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.