Citigroup Trims Harley-Davidson (HOG) Target Price to $55.00
Harley-Davidson (NYSE:HOG) had its price objective reduced by Citigroup from $57.00 to $55.00 in a research note released on Tuesday, MarketBeat.com reports. Citigroup currently has a buy rating on the stock.
Other analysts have also recently issued reports about the company. Zacks Investment Research raised Harley-Davidson from a hold rating to a buy rating and set a $57.00 price target for the company in a report on Tuesday, January 2nd. BMO Capital Markets reissued a buy rating and set a $56.00 price target on shares of Harley-Davidson in a report on Friday, October 13th. Stifel Nicolaus reissued a buy rating and set a $48.00 price target (down from $51.00) on shares of Harley-Davidson in a report on Tuesday, October 10th. Argus raised Harley-Davidson from a hold rating to a buy rating and set a $53.00 price target for the company in a report on Friday, October 20th. Finally, TheStreet cut Harley-Davidson from a b- rating to a c+ rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $52.00.
Shares of Harley-Davidson (NYSE:HOG) opened at $47.83 on Tuesday. The firm has a market capitalization of $8,100.00, a P/E ratio of 16.05, a P/E/G ratio of 1.50 and a beta of 0.84. The company has a debt-to-equity ratio of 2.49, a quick ratio of 1.06 and a current ratio of 1.23. Harley-Davidson has a fifty-two week low of $44.52 and a fifty-two week high of $63.40.
Harley-Davidson declared that its Board of Directors has initiated a stock buyback plan on Monday, February 5th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Wednesday, February 14th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.37. Harley-Davidson’s dividend payout ratio (DPR) is 48.99%.
In other news, VP Paul J. Jones sold 870 shares of Harley-Davidson stock in a transaction on Monday, February 5th. The stock was sold at an average price of $47.62, for a total value of $41,429.40. Following the transaction, the vice president now owns 3,399 shares in the company, valued at approximately $161,860.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its stake in shares of Harley-Davidson by 26.1% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 207,559 shares of the company’s stock valued at $10,006,000 after purchasing an additional 42,983 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Harley-Davidson by 11.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 25,591 shares of the company’s stock valued at $1,233,000 after purchasing an additional 2,659 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Harley-Davidson by 27.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,129,738 shares of the company’s stock valued at $54,465,000 after purchasing an additional 245,139 shares during the last quarter. Parthenon LLC increased its stake in shares of Harley-Davidson by 32.4% in the 3rd quarter. Parthenon LLC now owns 15,849 shares of the company’s stock valued at $764,000 after purchasing an additional 3,875 shares during the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Harley-Davidson in the 3rd quarter valued at $960,000. Institutional investors own 97.11% of the company’s stock.
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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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