Harley-Davidson (NYSE:HOG) Price Target Lowered to $45.00 at Bank of America

by · The Cerbat Gem

Harley-Davidson (NYSE:HOG – Free Report) had its price target reduced by Bank of America from $50.00 to $45.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also commented on the company. Citigroup lifted their price objective on Harley-Davidson from $37.00 to $39.00 and gave the stock a neutral rating in a research report on Thursday, September 19th. Robert W. Baird lowered shares of Harley-Davidson from an outperform rating to a neutral rating and cut their price objective for the company from $44.00 to $40.00 in a report on Wednesday, October 2nd. Baird R W lowered shares of Harley-Davidson from a strong-buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, UBS Group increased their price target on Harley-Davidson from $39.00 to $40.00 and gave the company a neutral rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $44.00.

Check Out Our Latest Report on Harley-Davidson

Harley-Davidson Price Performance

Shares of HOG stock opened at $35.24 on Tuesday. The stock’s fifty day moving average is $36.74 and its 200-day moving average is $36.15. The stock has a market capitalization of $4.74 billion, a PE ratio of 7.83, a PEG ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. Harley-Davidson has a 52 week low of $25.43 and a 52 week high of $44.16.

Harley-Davidson (NYSE:HOG – Get Free Report) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.23. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. Harley-Davidson’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.22 earnings per share. Equities research analysts expect that Harley-Davidson will post 4.19 EPS for the current fiscal year.

Harley-Davidson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were issued a $0.1725 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.96%. Harley-Davidson’s dividend payout ratio (DPR) is presently 15.33%.

Harley-Davidson declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 19.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HOG. Future Financial Wealth Managment LLC bought a new stake in Harley-Davidson in the 1st quarter valued at about $39,000. American National Bank acquired a new position in Harley-Davidson during the 1st quarter worth approximately $52,000. Signaturefd LLC boosted its holdings in shares of Harley-Davidson by 46.8% during the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock valued at $63,000 after acquiring an additional 597 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Harley-Davidson by 19.5% in the second quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after buying an additional 322 shares during the period. Finally, GAMMA Investing LLC raised its position in Harley-Davidson by 19.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $67,000 after purchasing an additional 320 shares during the last quarter. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Company Profile

(Get Free Report)

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.

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