Citigroup Raises Harley-Davidson (NYSE:HOG) Price Target to $26.00

Harley-Davidson (NYSE:HOG) had its price target increased by Citigroup from $23.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 10.01% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird set a $28.00 price objective on shares of Harley-Davidson in a report on Wednesday. Zacks Research upgraded shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. UBS Group cut their target price on shares of Harley-Davidson from $27.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. Argus upgraded shares of Harley-Davidson to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, DA Davidson dropped their price target on Harley-Davidson from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.11.

Harley-Davidson Stock Performance

NYSE HOG traded down $0.21 during trading hours on Thursday, hitting $23.64. The company’s stock had a trading volume of 3,303,146 shares, compared to its average volume of 3,571,635. Harley-Davidson has a 12 month low of $17.09 and a 12 month high of $31.25. The company’s 50 day simple moving average is $20.56 and its two-hundred day simple moving average is $21.82. The company has a market cap of $2.58 billion, a P/E ratio of 13.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.83.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.01 billion. Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. Harley-Davidson’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 EPS. As a group, sell-side analysts expect that Harley-Davidson will post 0.6 EPS for the current fiscal year.

Insider Activity at Harley-Davidson

In other Harley-Davidson news, Director Rafeh Masood purchased 2,775 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were acquired 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 of the company’s stock, valued at approximately $134,640. The trade was a 58.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James D. Farley, Jr. sold 6,454 shares of Harley-Davidson stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total transaction of $120,754.34. Following the transaction, the director owned 16,205 shares in the company, valued at $303,195.55. This represents a 28.48% decrease in their position. The SEC filing for this sale provides additional information. 0.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Harley-Davidson

Several institutional investors and hedge funds have recently bought and sold shares of HOG. EverSource Wealth Advisors LLC grew its holdings in Harley-Davidson by 139.0% during the third quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock valued at $26,000 after purchasing an additional 549 shares during the period. Pinnacle Holdings LLC purchased a new stake in Harley-Davidson in the fourth quarter worth about $30,000. Fifth Third Bancorp raised its stake in shares of Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock worth $36,000 after buying an additional 579 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Harley-Davidson by 153.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after buying an additional 1,278 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Harley-Davidson by 1,758.9% during the 1st quarter. Bessemer Group Inc. now owns 2,937 shares of the company’s stock valued at $59,000 after buying an additional 2,779 shares in the last quarter. 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.