Harley-Davidson (HOG) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Harley-Davidson (NYSE:HOG) from a hold rating to a buy rating in a report published on Tuesday morning. Zacks Investment Research currently has $57.00 target price on the stock.
According to Zacks, “Over the past 60 days, the Zacks Consensus Estimate for Harley-Davidson’s quarterly estimates has been going up of late. The company is making long-term investments with an aim to expand its product portfolio and market its products. This strategy is expected to drive customer growth for the company. Also, an improved financial position enables it to pay dividends and boost shareholder confidence in Harley-Davidson. However, continuous decline in worldwide retail sales, macroeconomic challenges in some regions as well as higher manufacturing costs are a few concerns for the company. Also, in the last six months, Harley-Davidson’s shares have underperformed the industry it belongs to.”
A number of other research firms have also recently issued reports on HOG. Wedbush lifted their target price on shares of Harley-Davidson from $45.00 to $49.00 and gave the company a neutral rating in a research note on Thursday, December 7th. Argus upgraded shares of Harley-Davidson from a hold rating to a buy rating and set a $53.00 target price for the company in a research note on Friday, October 20th. TheStreet cut shares of Harley-Davidson from a b- rating to a c+ rating in a research note on Tuesday, October 17th. Stifel Nicolaus lifted their target price on shares of Harley-Davidson from $48.00 to $49.00 and gave the company a hold rating in a research note on Wednesday, October 18th. Finally, UBS Group reiterated a hold rating and issued a $47.00 target price on shares of Harley-Davidson in a research note on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company. Harley-Davidson has an average rating of Hold and an average target price of $52.82.
Harley-Davidson (NYSE:HOG) opened at $50.97 on Tuesday. Harley-Davidson has a one year low of $44.52 and a one year high of $63.40. The company has a quick ratio of 1.03, a current ratio of 1.18 and a debt-to-equity ratio of 2.48. The stock has a market cap of $8,578.01, a P/E ratio of 15.93, a PEG ratio of 1.62 and a beta of 0.96.
Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, October 17th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Harley-Davidson had a net margin of 11.68% and a return on equity of 28.69%. The company had revenue of $962.10 million during the quarter, compared to analysts’ expectations of $959.41 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. Harley-Davidson’s quarterly revenue was down 11.9% compared to the same quarter last year. sell-side analysts forecast that Harley-Davidson will post 3.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Thursday, December 14th. Harley-Davidson’s dividend payout ratio is currently 45.63%.
In related news, CFO John A. Olin sold 28,760 shares of the firm’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $48.03, for a total value of $1,381,342.80. Following the completion of the sale, the chief financial officer now owns 65,722 shares of the company’s stock, valued at $3,156,627.66. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jochen Zeitz sold 1,859 shares of Harley-Davidson stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $47.80, for a total transaction of $88,860.20. The disclosure for this sale can be found here. In the last three months, insiders sold 58,726 shares of company stock valued at $2,816,641. 0.70% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HOG. Steward Partners Investment Advisory LLC acquired a new stake in Harley-Davidson during the 3rd quarter worth $166,000. TLP Group LLC acquired a new stake in Harley-Davidson during the 2nd quarter worth $255,000. Parametrica Management Ltd acquired a new stake in Harley-Davidson during the 3rd quarter worth $269,000. IFM Investors Pty Ltd acquired a new stake in Harley-Davidson during the 3rd quarter worth $280,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Harley-Davidson by 22.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,080 shares of the company’s stock worth $294,000 after acquiring an additional 1,100 shares during the period. 97.18% of the stock is owned by hedge funds and other institutional investors.
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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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