Harley-Davidson (NYSE:HOG) Reaches New 52-Week Low – Here’s What Happened

Shares of Harley-Davidson, Inc. (NYSE:HOG) hit a new 52-week low during trading on Wednesday . The stock traded as low as $17.10 and last traded at $17.1630, with a volume of 2874025 shares trading hands. The stock had previously closed at $17.51.

Analysts Set New Price Targets

HOG has been the subject of several recent analyst reports. Loop Capital initiated coverage on shares of Harley-Davidson in a report on Tuesday, November 25th. They issued a “hold” rating and a $21.00 target price for the company. Wall Street Zen cut shares of Harley-Davidson from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Argus raised shares of Harley-Davidson to a “strong-buy” rating in a research report on Tuesday, February 17th. Citigroup decreased 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Harley-Davidson in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.67.

Harley-Davidson Trading Up 0.1%

The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.97 billion, a PE ratio of 6.75 and a beta of 1.42. The stock’s fifty day simple moving average is $19.62 and its 200 day simple moving average is $23.42.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.52). Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The business had revenue of $496.16 million for the quarter, compared to analysts’ expectations of $482.21 million. During the same quarter in the prior year, the business earned ($0.93) EPS. The company’s revenue was down 9.8% compared to the same quarter last year. On average, sell-side analysts predict that Harley-Davidson, Inc. will post 3.44 earnings per share for the current year.

Harley-Davidson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Monday, March 2nd were given a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 4.3%. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 2nd. Harley-Davidson’s dividend payout ratio (DPR) is presently 28.74%.

Insider Activity

In other news, Director James D. Farley, Jr. sold 6,454 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the transaction, the director owned 16,205 shares of the company’s stock, valued at $303,195.55. This trade represents a 28.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rafeh Masood acquired 2,775 shares of the stock in a transaction dated Friday, February 27th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $49,950.00. Following the completion of the transaction, the director owned 7,480 shares in the company, valued at approximately $134,640. This represents a 58.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On Harley-Davidson

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its stake in shares of Harley-Davidson by 61.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 5,517,795 shares of the company’s stock valued at $130,220,000 after buying an additional 2,108,099 shares in the last quarter. Norges Bank purchased a new stake in Harley-Davidson in the 4th quarter worth $25,766,000. SG Americas Securities LLC increased its stake in Harley-Davidson by 1,277.0% in the 4th quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock worth $22,418,000 after buying an additional 1,014,660 shares in the last quarter. Vanguard Group Inc. raised its holdings in Harley-Davidson by 7.3% during the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company’s stock valued at $361,544,000 after acquiring an additional 886,998 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Harley-Davidson in the third quarter valued at about $21,761,000. Institutional investors own 85.10% of the company’s stock.

About Harley-Davidson

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.