Harley-Davidson (NYSE:HOG) Price Target Lowered to $19.00 at UBS Group

Harley-Davidson (NYSE:HOG) had its target price trimmed by UBS Group from $27.00 to $19.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on HOG. Citigroup reduced their price objective on shares of Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Morgan Stanley reiterated an “underweight” rating and issued a $12.00 price target on shares of Harley-Davidson in a research report on Tuesday, February 17th. BMO Capital Markets reiterated an “outperform” rating and set a $24.00 price objective on shares of Harley-Davidson in a research note on Wednesday, February 11th. Argus upgraded Harley-Davidson to a “strong-buy” rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings lowered Harley-Davidson from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.50.

Harley-Davidson Trading Up 5.0%

Shares of Harley-Davidson stock opened at $19.42 on Wednesday. The stock has a market capitalization of $2.17 billion, a P/E ratio of 7.44 and a beta of 1.42. Harley-Davidson has a 52-week low of $17.11 and a 52-week high of $31.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.83 and a current ratio of 2.10. The stock’s 50-day simple moving average is $20.20 and its 200 day simple moving average is $24.17.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.52). Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The business had revenue of $496.16 million during the quarter, compared to analysts’ expectations of $482.21 million. During the same quarter in the previous year, the business earned ($0.93) EPS. Harley-Davidson’s revenue for the quarter was down 9.8% on a year-over-year basis. As a group, research analysts anticipate that Harley-Davidson will post 3.44 EPS for the current year.

Harley-Davidson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be given a dividend of $0.1875 per share. The ex-dividend date is Monday, March 2nd. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a yield of 3.9%. Harley-Davidson’s dividend payout ratio (DPR) is presently 28.74%.

Insider Transactions at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total value of $120,754.34. Following the transaction, the director directly owned 16,205 shares in the company, valued at approximately $303,195.55. This represents a 28.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rafeh Masood acquired 2,775 shares of the stock in a transaction dated 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 owned 7,480 shares in the company, valued at approximately $134,640. This represents a 58.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Harley-Davidson

Several institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Harley-Davidson by 62.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company’s stock worth $2,183,000 after buying an additional 33,097 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Harley-Davidson by 18.3% during the first quarter. Empowered Funds LLC now owns 17,560 shares of the company’s stock worth $443,000 after acquiring an additional 2,712 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock worth $53,000 after acquiring an additional 1,278 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Harley-Davidson by 191.5% in the 2nd 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 grew its holdings in shares of Harley-Davidson by 30.2% during the 2nd 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 during the last quarter. 85.10% of the stock is currently owned by institutional investors.

About Harley-Davidson

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.