Harley-Davidson (NYSE:HOG) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Harley-Davidson (NYSE:HOG) from a hold rating to a sell rating in a report issued on Saturday morning.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird set a $22.00 price target on Harley-Davidson in a research note on Wednesday, February 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of Harley-Davidson in a research note on Wednesday, February 11th. Loop Capital assumed coverage on Harley-Davidson in a report on Tuesday, November 25th. They issued a “hold” rating and a $21.00 target price on the stock. Zacks Research downgraded shares of Harley-Davidson from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Finally, DA Davidson lowered their price target on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.50.

Harley-Davidson Price Performance

Shares of NYSE:HOG opened at $18.79 on Friday. The firm has a market cap of $2.10 billion, a PE ratio of 7.20 and a beta of 1.42. The firm’s fifty day moving average is $20.09 and its 200-day moving average is $23.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.83 and a current ratio of 2.10. Harley-Davidson has a 52 week low of $17.11 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). The company had revenue of $496.16 million during the quarter, compared to analyst estimates of $482.21 million. Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.93) earnings per share. Sell-side analysts predict that Harley-Davidson will post 3.44 earnings per share for the current year.

Harley-Davidson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd will be paid a $0.1875 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.18. Harley-Davidson’s dividend payout ratio (DPR) is presently 28.74%.

Insider Activity

In other Harley-Davidson news, Director Rafeh Masood bought 2,775 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the transaction, the director directly owned 7,480 shares in the company, valued at approximately $134,640. This trade represents a 58.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James D. Farley, Jr. sold 6,454 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the sale, the director directly owned 16,205 shares of the company’s stock, valued at $303,195.55. This represents a 28.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Harley-Davidson by 62.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company’s stock valued at $2,183,000 after acquiring an additional 33,097 shares during the period. Empowered Funds LLC grew its holdings in Harley-Davidson by 18.3% in the first quarter. Empowered Funds LLC now owns 17,560 shares of the company’s stock worth $443,000 after purchasing an additional 2,712 shares during the period. Geneos Wealth Management Inc. grew 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 worth $53,000 after purchasing an additional 1,278 shares during the period. Assetmark Inc. increased its stake in Harley-Davidson by 191.5% in the second quarter. Assetmark Inc. now owns 3,069 shares of the company’s stock valued at $72,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Harley-Davidson by 30.2% in the second quarter. Bank of New York Mellon Corp now owns 1,838,532 shares of the company’s stock valued at $43,389,000 after purchasing an additional 426,808 shares in the last quarter. 85.10% of the stock is currently owned by 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.