Morgan Stanley Cuts Harley-Davidson (NYSE:HOG) Price Target to $21.00

Harley-Davidson (NYSE:HOG) had its price target lowered by analysts at Morgan Stanley from $25.00 to $21.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 9.25% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Zacks Research cut Harley-Davidson from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. DA Davidson cut their target price on shares of Harley-Davidson from $34.00 to $30.00 and set a “buy” rating for the company in a report on Monday, November 10th. Griffin Securities set a $34.00 price target on shares of Harley-Davidson in a report on Monday, August 25th. Weiss Ratings upgraded shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, UBS Group decreased their price objective on shares of Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.86.

Harley-Davidson Stock Performance

Shares of HOG stock traded down $0.61 during trading hours on Wednesday, hitting $23.14. The company’s stock had a trading volume of 737,190 shares, compared to its average volume of 2,078,973. Harley-Davidson has a 12-month low of $20.45 and a 12-month high of $35.21. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 1.32. The stock has a market cap of $2.73 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.40 and a beta of 1.39. The company has a 50 day moving average of $27.27 and a 200 day moving average of $25.99.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $1.72. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.01 billion. Harley-Davidson had a return on equity of 7.43% and a net margin of 5.76%. On average, sell-side analysts forecast that Harley-Davidson will post 3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Harley-Davidson

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bayforest Capital Ltd purchased a new position in Harley-Davidson in the second quarter worth approximately $1,218,000. Ethic Inc. lifted its stake in shares of Harley-Davidson by 135.3% in the 2nd quarter. Ethic Inc. now owns 26,307 shares of the company’s stock valued at $621,000 after purchasing an additional 15,128 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Harley-Davidson by 480.6% in the 1st quarter. Jump Financial LLC now owns 294,371 shares of the company’s stock valued at $7,433,000 after purchasing an additional 243,671 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Harley-Davidson by 104.0% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,409,696 shares of the company’s stock worth $86,095,000 after purchasing an additional 1,738,017 shares during the period. Finally, Twelve Points Wealth Management LLC grew its holdings in shares of Harley-Davidson by 14.0% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 81,335 shares of the company’s stock worth $1,920,000 after purchasing an additional 9,966 shares during the period. 85.10% of the stock is owned by hedge funds and other institutional investors.

About Harley-Davidson

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.