Zacks Investment Research cut shares of Harley-Davidson (NYSE:HOG) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “In the past six months, Harley-Davidson’s shares underperformed the industry it belongs to. Declined worldwide sales and a waning operating margin are concerns before the company. Moreover, it has provided a weak guidance for fiscal 2018. The company is focusing to develop electric motorcycles technologies and aims to launch these motorcycles in the next 18 months. Further, in order to expand its international presence, the company is adding new dealerships and launching new products.”
HOG has been the subject of several other reports. ValuEngine cut shares of Harley-Davidson from a buy rating to a hold rating in a research note on Friday, February 2nd. Longbow Research cut shares of Harley-Davidson from a neutral rating to an underperform rating in a research note on Wednesday, January 3rd. Citigroup lowered their price target on shares of Harley-Davidson from $57.00 to $55.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Sanford C. Bernstein lowered their price target on shares of Harley-Davidson from $52.00 to $45.00 and set a market perform rating on the stock in a report on Monday, March 26th. Finally, Wedbush lowered their price target on shares of Harley-Davidson to $49.00 and set a neutral rating on the stock in a report on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Harley-Davidson has a consensus rating of Hold and a consensus price target of $51.44.
Harley-Davidson (NYSE:HOG) last released its earnings results on Tuesday, January 30th. The company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.08. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Harley-Davidson had a net margin of 10.62% and a return on equity of 31.23%. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 EPS. equities research analysts anticipate that Harley-Davidson will post 3.77 EPS for the current year.
Harley-Davidson announced that its board has authorized a stock buyback program on Monday, February 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In other news, VP Paul J. Jones sold 870 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $47.62, for a total value of $41,429.40. Following the sale, the vice president now owns 3,399 shares of the company’s stock, valued at approximately $161,860.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Tchernavia Rocker sold 1,401 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $47.74, for a total transaction of $66,883.74. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC acquired a new position in Harley-Davidson during the 3rd quarter worth about $166,000. IFG Advisory LLC acquired a new position in Harley-Davidson during the 4th quarter worth about $239,000. Dynamic Capital Management Ltd acquired a new position in Harley-Davidson during the 4th quarter worth about $255,000. Sciencast Management LP acquired a new position in Harley-Davidson during the 4th quarter worth about $266,000. Finally, IFM Investors Pty Ltd acquired a new position in Harley-Davidson during the 3rd quarter worth about $280,000. Institutional investors and hedge funds own 95.87% 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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