Harley-Davidson (NYSE:HOG) Price Target Raised to $19.00

Harley-Davidson (NYSE:HOG) had its price target hoisted by Wells Fargo & Company from $15.00 to $19.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other research analysts have also issued reports on HOG. Zacks Research upgraded Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. DA Davidson dropped their target price on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Argus raised shares of Harley-Davidson to a “strong-buy” rating in a report on Tuesday, February 17th. UBS Group reduced their price target on shares of Harley-Davidson from $27.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. Finally, Citigroup dropped 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson presently has an average rating of “Hold” and an average target price of $23.11.

Harley-Davidson Stock Up 7.5%

Shares of HOG opened at $25.41 on Wednesday. The company has a quick ratio of 1.83, a current ratio of 1.91 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average price of $20.64 and a two-hundred day moving average price of $21.79. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 14.44 and a beta of 1.27. Harley-Davidson has a 12 month low of $17.09 and a 12 month high of $31.25.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The company had revenue of $1.17 billion during 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%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.07 earnings per share. Equities analysts predict that Harley-Davidson will post 0.64 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.0%. 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 is 42.61%.

Insider Transactions at Harley-Davidson

In other Harley-Davidson news, Director James D. Farley, Jr. sold 6,454 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total value of $120,754.34. Following the completion of the sale, the director owned 16,205 shares in the company, valued at approximately $303,195.55. This trade represents a 28.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rafeh Masood bought 2,775 shares of the company’s stock in a transaction on Friday, February 27th. The stock was bought at an average cost of $18.00 per share, with a total value of $49,950.00. Following the completion of the purchase, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.97% of the company’s stock.

Institutional Trading of Harley-Davidson

A number of hedge funds and other institutional investors have recently modified their holdings of HOG. Gallacher Capital Management LLC acquired a new position in Harley-Davidson during the 1st quarter worth $467,000. Bessemer Group Inc. increased its stake in shares of Harley-Davidson by 1,758.9% in 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 during the period. Bank of New York Mellon Corp raised its position in shares of Harley-Davidson by 8.4% during the first quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company’s stock worth $42,675,000 after acquiring an additional 163,762 shares during the last quarter. Robinson Value Management Ltd. bought a new stake in shares of Harley-Davidson during the first quarter worth $3,215,000. Finally, Calamos Wealth Management LLC acquired a new position in shares of Harley-Davidson during the first quarter valued at $322,000. Institutional investors and hedge funds own 85.10% of the company’s stock.

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.