Harley-Davidson (NYSE:HOG) Sees Strong Trading Volume on Strong Earnings

Shares of Harley-Davidson, Inc. (NYSE:HOG) saw unusually-high trading volume on Thursday following a better than expected earnings announcement. Approximately 3,039,032 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 1,679,107 shares.The stock last traded at $34.82 and had previously closed at $39.44.

The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.24. Harley-Davidson had a net margin of 11.03% and a return on equity of 19.48%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion.

Harley-Davidson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Monday, March 4th were given a dividend of $0.1725 per share. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 1st. This represents a $0.69 annualized dividend and a yield of 1.99%. Harley-Davidson’s dividend payout ratio (DPR) is presently 15.33%.

Analysts Set New Price Targets

A number of research firms recently commented on HOG. Citigroup increased their price objective on Harley-Davidson from $36.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. BMO Capital Markets cut their price objective on shares of Harley-Davidson from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America raised their target price on shares of Harley-Davidson from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley assumed coverage on Harley-Davidson in a report on Tuesday. They issued an “overweight” rating and a $50.00 price target for the company. Finally, DA Davidson raised their price objective on Harley-Davidson from $42.00 to $49.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Harley-Davidson has a consensus rating of “Moderate Buy” and an average price target of $46.43.

Institutional Investors Weigh In On Harley-Davidson

Several institutional investors and hedge funds have recently added to or reduced their stakes in HOG. Quadrant Capital Group LLC increased its position in Harley-Davidson by 95.0% during the 4th quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock worth $29,000 after purchasing an additional 384 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Harley-Davidson during the fourth quarter worth approximately $36,000. Principal Securities Inc. acquired a new stake in shares of Harley-Davidson in the fourth quarter worth $38,000. Lindbrook Capital LLC increased its position in shares of Harley-Davidson by 66.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,057 shares of the company’s stock worth $39,000 after acquiring an additional 423 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Harley-Davidson in the 1st quarter valued at $39,000. 85.10% of the stock is currently owned by institutional investors and hedge funds.

Harley-Davidson Price Performance

The company’s fifty day moving average is $39.81 and its two-hundred day moving average is $34.93. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.25 and a current ratio of 1.54. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 2.16 and a beta of 1.43.

Harley-Davidson Company Profile

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.