Harley-Davidson (HOG) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Harley-Davidson (NYSE:HOG) from a sell rating to a hold rating in a report released on Wednesday morning.
According to Zacks, “Harley-Davidson is making long-term investments to expand its product portfolio. In March, the company announced that it ahs invested in Alta Motors. Additionally, both the two companies will team up to develop electric motorcycle technology and will focus on product developments. This development is in sync with Harley-Davidson’s plan to launch electric motorcycles by 2019. Also, in the last six months, shares of the company have outperformed the industry it belongs to. Further, it is working towards improving its international reach and anticipates an increase of 50% of yearly volume by 2027. However, declining worldwide sales, waning operating margin are concerns before the company. Moreover, it has provided a weak guidance for fiscal 2018.”
A number of other equities research analysts have also recently commented on the company. Longbow Research raised Harley-Davidson from an underperform rating to a neutral rating in a research note on Thursday, March 29th. Sanford C. Bernstein reduced their price objective on Harley-Davidson from $52.00 to $45.00 and set a market perform rating for the company in a research note on Monday, March 26th. Citigroup reduced their price objective on Harley-Davidson from $57.00 to $55.00 and set a buy rating for the company in a research note on Tuesday, February 6th. ValuEngine cut Harley-Davidson from a buy rating to a hold rating in a research note on Friday, February 2nd. Finally, Wells Fargo reduced their price objective on Harley-Davidson from $59.00 to $53.00 and set an outperform rating for the company in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $50.94.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. Harley-Davidson had a return on equity of 31.23% and a net margin of 10.62%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. research analysts predict that Harley-Davidson will post 3.76 EPS for the current year.
Harley-Davidson declared that its board has authorized a share buyback plan on Monday, February 5th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, VP Paul J. Jones sold 870 shares of Harley-Davidson stock in a transaction on Monday, February 5th. The stock was sold at an average price of $47.62, for a total transaction of $41,429.40. Following the sale, the vice president now directly owns 3,399 shares in the company, valued at $161,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Tchernavia Rocker sold 1,401 shares of Harley-Davidson stock in a transaction on Monday, February 12th. The stock was sold at an average price of $47.74, for a total value of $66,883.74. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in Harley-Davidson by 17.6% during the fourth quarter. Bank of Montreal Can now owns 85,556 shares of the company’s stock worth $4,353,000 after acquiring an additional 12,807 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Harley-Davidson by 2.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 181,868 shares of the company’s stock worth $9,254,000 after acquiring an additional 4,026 shares during the period. Norinchukin Bank The lifted its holdings in Harley-Davidson by 108.4% during the fourth quarter. Norinchukin Bank The now owns 26,457 shares of the company’s stock worth $1,346,000 after acquiring an additional 13,760 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Harley-Davidson by 11.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 25,591 shares of the company’s stock worth $1,233,000 after acquiring an additional 2,659 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Harley-Davidson by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,730,695 shares of the company’s stock worth $87,869,000 after acquiring an additional 27,799 shares during the period. Institutional investors and hedge funds own 95.87% of the company’s stock.
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Harley-Davidson Company Profile
Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment 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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