Harley-Davidson (NYSE:HOG) Price Target Lowered to $19.00 at UBS Group

Harley-Davidson (NYSE:HOG) had its price target decreased by investment analysts at UBS Group from $27.00 to $19.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential downside of 1.30% from the stock’s previous close.

Several other research firms have also recently weighed in on HOG. Morgan Stanley reissued an “underweight” rating and issued a $12.00 target price on shares of Harley-Davidson in a research note on Tuesday, February 17th. Argus upgraded shares of Harley-Davidson to a “strong-buy” rating in a research note on Tuesday, February 17th. Loop Capital began coverage on shares of Harley-Davidson in a research note on Tuesday, November 25th. They issued a “hold” rating and a $21.00 target price for the company. Weiss Ratings cut Harley-Davidson from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Zacks Research downgraded Harley-Davidson from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson currently has an average rating of “Hold” and an average price target of $22.50.

Harley-Davidson Stock Up 4.1%

Shares of NYSE:HOG traded up $0.76 during midday trading on Wednesday, reaching $19.25. The company had a trading volume of 1,375,031 shares, compared to its average volume of 3,394,019. Harley-Davidson has a 1-year low of $17.11 and a 1-year high of $31.25. The stock has a market cap of $2.15 billion, a PE ratio of 7.38 and a beta of 1.42. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $20.23 and its 200 day moving average price is $24.21.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($1.52). The company had revenue of $496.16 million during the quarter, compared to the consensus estimate of $482.21 million. Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.93) earnings per share. Research analysts forecast that Harley-Davidson will post 3.44 EPS for the current fiscal year.

Insider Activity

In other news, Director James D. Farley, Jr. sold 6,454 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the transaction, the director owned 16,205 shares of the company’s stock, valued at approximately $303,195.55. This represents a 28.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rafeh Masood bought 2,775 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the purchase, the director owned 7,480 shares of the company’s stock, valued at $134,640. This trade represents a 58.98% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in HOG. Donald Smith & CO. Inc. increased its position in Harley-Davidson by 61.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 5,517,795 shares of the company’s stock worth $130,220,000 after buying an additional 2,108,099 shares during the period. Norges Bank bought a new stake in shares of Harley-Davidson in the fourth quarter valued at about $25,766,000. SG Americas Securities LLC grew its stake in shares of Harley-Davidson by 1,277.0% in the fourth quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock valued at $22,418,000 after acquiring an additional 1,014,660 shares in the last quarter. Vanguard Group Inc. increased its position in Harley-Davidson by 7.3% during the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company’s stock worth $361,544,000 after acquiring an additional 886,998 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Harley-Davidson during the third quarter worth about $21,761,000. 85.10% of the stock is currently owned by institutional investors.

About Harley-Davidson

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.