Harley-Davidson Inc (HOG) Given “Neutral” Rating at Goldman Sachs Group Inc
Harley-Davidson Inc (NYSE:HOG)‘s stock had its “neutral” rating reiterated by analysts at Goldman Sachs Group Inc in a research note issued on Tuesday. They presently have a $54.00 price objective on the stock. Goldman Sachs Group Inc’s target price suggests a potential downside of 9.09% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Citigroup Inc cut their price objective on shares of Harley-Davidson from $73.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 6th. Morgan Stanley restated an “overweight” rating and set a $59.00 price objective (down from $61.00) on shares of Harley-Davidson in a research note on Wednesday, February 1st. Wedbush restated a “hold” rating and set a $53.00 price objective (up from $48.00) on shares of Harley-Davidson in a research note on Friday, January 13th. Tigress Financial restated a “buy” rating on shares of Harley-Davidson in a research note on Friday, March 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Harley-Davidson from $58.00 to $60.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $56.41.
Shares of Harley-Davidson (NYSE:HOG) traded down 4.28% during midday trading on Tuesday, reaching $56.86. 5,819,080 shares of the company were exchanged. Harley-Davidson has a 52-week low of $41.63 and a 52-week high of $63.40. The firm’s 50 day moving average is $60.15 and its 200-day moving average is $58.06. The company has a market capitalization of $9.93 billion, a PE ratio of 14.85 and a beta of 0.88. Harley-Davidson also saw some unusual options trading on Monday. Traders purchased 4,888 put options on the company. This represents an increase of 482% compared to the average volume of 840 put options.
Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, April 18th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.03. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Harley-Davidson had a return on equity of 35.38% and a net margin of 13.13%. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. During the same period last year, the business posted $1.36 earnings per share. On average, equities analysts forecast that Harley-Davidson will post $3.85 earnings per share for the current fiscal year.
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In related news, SVP Michelle Kumbier sold 3,049 shares of Harley-Davidson stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $56.56, for a total value of $172,451.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joanne M. Bischmann sold 911 shares of Harley-Davidson stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $57.00, for a total value of $51,927.00. Following the completion of the transaction, the vice president now directly owns 2,195 shares in the company, valued at approximately $125,115. The disclosure for this sale can be found here. Insiders sold a total of 103,960 shares of company stock worth $5,912,378 in the last three months. 0.99% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of HOG. Dodge & Cox bought a new position in shares of Harley-Davidson during the fourth quarter worth $517,798,000. Independent Franchise Partners LLP boosted its position in shares of Harley-Davidson by 1.5% in the third quarter. Independent Franchise Partners LLP now owns 8,745,188 shares of the company’s stock worth $459,909,000 after buying an additional 127,052 shares in the last quarter. State Street Corp boosted its position in shares of Harley-Davidson by 1.1% in the fourth quarter. State Street Corp now owns 7,983,530 shares of the company’s stock worth $465,771,000 after buying an additional 89,330 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Harley-Davidson by 2.2% in the third quarter. BlackRock Fund Advisors now owns 2,857,606 shares of the company’s stock worth $150,281,000 after buying an additional 60,156 shares in the last quarter. Finally, Kiltearn Partners LLP boosted its position in shares of Harley-Davidson by 7.4% in the fourth quarter. Kiltearn Partners LLP now owns 2,658,900 shares of the company’s stock worth $155,120,000 after buying an additional 183,300 shares in the last quarter. 89.54% of the stock is currently owned by hedge funds and other institutional investors.
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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