Harley-Davidson, Inc. (NYSE:HOG) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Harley-Davidson has a consensus rating of “Hold” from 10 brokerages, with the average 12-month price target at about $24.22.
• The company recently reported mixed quarterly results: EPS came in at $0.22, below estimates of $0.34, while revenue of $1.17 billion beat expectations but still fell 11.7% year over year.
• Harley-Davidson declared a quarterly dividend of $0.1875 per share, or $0.75 annualized, for a 2.9% yield; the company also saw recent insider share sales and continued strong institutional ownership.

Shares of Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) have been assigned an average recommendation of "Hold" from the ten brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $24.2222.

A number of equities research analysts have commented on HOG shares. Argus raised Harley-Davidson to a "strong-buy" rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Harley-Davidson from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, June 3rd. Zacks Research raised Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Wall Street Zen downgraded Harley-Davidson from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Finally, DA Davidson cut their price target on Harley-Davidson from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Thursday, February 12th.

Harley-Davidson Price Performance

Harley-Davidson stock opened at $25.53 on Wednesday. Harley-Davidson has a one year low of $17.09 and a one year high of $31.25. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.66 and a current ratio of 1.91. The business has a fifty day moving average of $23.47 and a two-hundred day moving average of $21.56. The company has a market cap of $2.69 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 15.12 and a beta of 1.26.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.12). Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business posted $1.07 EPS. Harley-Davidson's revenue was down 11.7% compared to the same quarter last year. As a group, analysts predict that Harley-Davidson will post 0.39 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, June 8th. Harley-Davidson's payout ratio is 42.61%.

Insider Transactions at Harley-Davidson

In other Harley-Davidson news, insider Paul J. Krause sold 1,564 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $26.00, for a total value of $40,664.00. Following the transaction, the insider directly owned 30,012 shares in the company, valued at approximately $780,312. This represents a 4.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $24.21, for a total transaction of $37,622.34. Following the completion of the transaction, the chief financial officer owned 32,508 shares in the company, valued at approximately $787,018.68. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in Harley-Davidson by 456.7% in the 1st quarter. Bank of America Corp DE now owns 1,735,378 shares of the company's stock worth $35,089,000 after acquiring an additional 1,423,675 shares during the period. Kentucky Retirement Systems purchased a new stake in Harley-Davidson in the 1st quarter worth approximately $369,000. Amundi grew its stake in Harley-Davidson by 119.8% in the 1st quarter. Amundi now owns 37,140 shares of the company's stock worth $751,000 after acquiring an additional 20,241 shares during the period. California State Teachers Retirement System grew its stake in Harley-Davidson by 15.8% in the 1st quarter. California State Teachers Retirement System now owns 123,757 shares of the company's stock worth $2,502,000 after acquiring an additional 16,911 shares during the period. Finally, Royal Bank of Canada grew its stake in Harley-Davidson by 0.8% in the 1st quarter. Royal Bank of Canada now owns 229,216 shares of the company's stock worth $4,635,000 after acquiring an additional 1,830 shares during the period. 85.10% of the stock is currently owned by hedge funds and other 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.

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