Zacks Research Downgrades Harley-Davidson (NYSE:HOG) to Strong Sell

Harley-Davidson (NYSE:HOG) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 price objective on shares of Harley-Davidson in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Harley-Davidson in a research note on Thursday, January 22nd. Citigroup dropped their price target on Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Loop Capital started coverage on Harley-Davidson in a report on Tuesday, November 25th. They issued a “hold” rating and a $21.00 price objective on the stock. Finally, Robert W. Baird set a $22.00 target price on shares of Harley-Davidson in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.25.

Harley-Davidson Price Performance

Shares of NYSE HOG opened at $20.42 on Thursday. The firm has a market cap of $2.41 billion, a PE ratio of 7.82, a PEG ratio of 0.53 and a beta of 1.39. The firm has a fifty day moving average of $20.77 and a 200 day moving average of $24.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.36 and a current ratio of 2.10. Harley-Davidson has a one year low of $19.33 and a one year high of $31.25.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Donald Smith & CO. Inc. increased its position in shares of Harley-Davidson by 61.8% during the second quarter. Donald Smith & CO. Inc. now owns 5,517,795 shares of the company’s stock valued at $130,220,000 after acquiring an additional 2,108,099 shares during the last quarter. Norges Bank purchased a new position in shares of Harley-Davidson during the 4th quarter worth approximately $25,766,000. SG Americas Securities LLC increased its holdings in Harley-Davidson by 1,277.0% in the 4th quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock valued at $22,418,000 after purchasing an additional 1,014,660 shares during the last quarter. Vanguard Group Inc. raised its position in Harley-Davidson by 7.3% in the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company’s stock valued at $361,544,000 after purchasing an additional 886,998 shares during the period. Finally, Voloridge Investment Management LLC acquired a new position in Harley-Davidson during the third quarter worth $21,761,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Harley-Davidson Company Profile

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.