Vetr Inc. Lowers Harley-Davidson Inc. (HOG) to Hold
Vetr lowered shares of Harley-Davidson Inc. (NYSE:HOG) from a buy rating to a hold rating in a research report report published on Tuesday morning. They currently have $51.00 target price on the stock.
A number of other brokerages also recently issued reports on HOG. Robert W. Baird downgraded Harley-Davidson from an outperform rating to a neutral rating and set a $54.00 price target on the stock. in a research report on Tuesday, July 5th. UBS AG reiterated a neutral rating and set a $55.00 price target on shares of Harley-Davidson in a research report on Sunday, August 14th. Wedbush reiterated a neutral rating and set a $48.00 price target (up previously from $40.00) on shares of Harley-Davidson in a research report on Thursday, August 25th. Citigroup Inc. increased their price target on Harley-Davidson from $51.00 to $62.00 and gave the stock a buy rating in a research report on Monday, August 29th. Finally, Longbow Research downgraded Harley-Davidson from a neutral rating to an underperform rating and lowered their price target for the stock from $52.57 to $40.00 in a research report on Monday, August 29th. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $51.16.
Harley-Davidson (NYSE:HOG) opened at 50.16 on Tuesday. Harley-Davidson has a 52-week low of $36.36 and a 52-week high of $57.33. The company has a market cap of $9.06 billion, a P/E ratio of 13.35 and a beta of 1.05. The stock’s 50 day moving average price is $52.20 and its 200 day moving average price is $48.95.
Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.01. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.67 billion. Harley-Davidson had a return on equity of 34.33% and a net margin of 13.23%. Harley-Davidson’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.44 earnings per share. Analysts expect that Harley-Davidson will post $3.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Tuesday, September 13th were issued a $0.35 dividend. The ex-dividend date was Friday, September 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.79%. Harley-Davidson’s dividend payout ratio (DPR) is presently 36.65%.
In related news, VP Paul J. Jones sold 2,517 shares of Harley-Davidson stock in a transaction on Friday, August 19th. The stock was sold at an average price of $54.03, for a total value of $135,993.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lawrence G. Hund sold 12,537 shares of Harley-Davidson stock in a transaction on Friday, August 5th. The shares were sold at an average price of $53.23, for a total value of $667,344.51. Following the completion of the transaction, the insider now owns 16,922 shares of the company’s stock, valued at $900,758.06. The disclosure for this sale can be found here. 0.99% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. raised its position in Harley-Davidson by 59.1% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,501 shares of the company’s stock worth $113,000 after buying an additional 929 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Harley-Davidson by 344.8% in the second quarter. Tower Research Capital LLC TRC now owns 3,118 shares of the company’s stock worth $141,000 after buying an additional 2,417 shares during the period. Pacer Advisors Inc. increased its stake in shares of Harley-Davidson by 7.3% in the second quarter. Pacer Advisors Inc. now owns 3,625 shares of the company’s stock worth $164,000 after buying an additional 247 shares during the period. Tredje AP fonden increased its stake in shares of Harley-Davidson by 1,380.8% in the second quarter. Tredje AP fonden now owns 3,850 shares of the company’s stock worth $174,000 after buying an additional 3,590 shares during the period. Finally, Cutler Capital Management LLC increased its stake in shares of Harley-Davidson by 33.3% in the second quarter. Cutler Capital Management LLC now owns 4,000 shares of the company’s stock worth $181,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 94.90% of the company’s stock.
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 l Harley-Davidson motorcycles, as well as a line of motorcycle parts, accessories, general merchandise and related services.
To view Vetr’s full report, visit Vetr’s official website.
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