Morgan Stanley Boosts Harley-Davidson (NYSE:HOG) Price Target to $15.00

Harley-Davidson (NYSE:HOG) had its price target hoisted by investment analysts at Morgan Stanley from $12.00 to $15.00 in a report issued on Tuesday, Marketbeat reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price target indicates a potential downside of 38.38% from the company’s previous close.

A number of other equities analysts have also commented on HOG. DA Davidson reduced their price target on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. BMO Capital Markets restated an “outperform” rating and issued a $24.00 price target on shares of Harley-Davidson in a research report on Wednesday, February 11th. Zacks Research upgraded shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. UBS Group boosted their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.22.

Harley-Davidson Stock Performance

NYSE HOG opened at $24.34 on Tuesday. The stock has a market cap of $2.56 billion, a P/E ratio of 13.83, a PEG ratio of 9.41 and a beta of 1.27. The company’s 50-day simple moving average is $21.59 and its 200 day simple moving average is $21.69. Harley-Davidson has a twelve month low of $17.09 and a twelve month high of $31.25. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 0.37.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.01 billion. Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. The business’s revenue was down 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 EPS. As a group, research analysts forecast that Harley-Davidson will post 0.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Harley-Davidson

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 shares were sold at an average price of $18.71, for a total transaction of $120,754.34. Following the transaction, the director directly owned 16,205 shares in the company, valued at approximately $303,195.55. This represents a 28.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rafeh Masood bought 2,775 shares of Harley-Davidson stock in a transaction dated Friday, February 27th. The shares were bought at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the completion of the transaction, the director directly owned 7,480 shares of the company’s stock, valued at $134,640. This represents a 58.98% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On Harley-Davidson

A number of large investors have recently modified their holdings of HOG. Donald Smith & CO. Inc. lifted its position in shares of Harley-Davidson by 30.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,899,204 shares of the company’s stock worth $182,345,000 after purchasing an additional 2,095,477 shares in the last quarter. Aegis Financial Corp acquired a new position in shares of Harley-Davidson during the first quarter worth approximately $27,681,000. Norges Bank acquired a new position in shares of Harley-Davidson during the fourth quarter worth approximately $25,766,000. SG Americas Securities LLC lifted its position in shares of Harley-Davidson by 1,277.0% during the fourth quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock worth $22,418,000 after purchasing an additional 1,014,660 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of 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 purchasing an additional 886,998 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.

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.