Harley-Davidson (NYSE:HOG) Price Target Raised to $30.00

Key Points

• DA Davidson raised Harley-Davidson’s price target from $25 to $30 and kept a buy rating, implying about 21% upside from the prior close.
• Other analysts have mixed views: the stock’s overall consensus rating is Hold, with a consensus price target of $24.33 despite several recent target changes and rating updates.
• Harley-Davidson shares were down 0.9% to $24.73, while the company’s latest earnings missed EPS expectations but revenue came in above estimates.

Harley-Davidson (NYSE:HOG - Get Free Report) had its price target upped by analysts at DA Davidson from $25.00 to $30.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. DA Davidson's target price would indicate a potential upside of 21.33% from the stock's previous close.

Several other brokerages have also weighed in on HOG. Griffin Securities set a $30.00 price objective on Harley-Davidson in a report on Monday. Morgan Stanley lifted their target price on Harley-Davidson from $12.00 to $15.00 and gave the stock an "underweight" rating in a research report on Tuesday, May 19th. Robert W. Baird set a $28.00 price target on Harley-Davidson in a report on Wednesday, May 6th. Zacks Research upgraded shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Wolfe Research restated an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Harley-Davidson presently has an average rating of "Hold" and a consensus price target of $24.33.

Harley-Davidson Stock Down 0.9%

HOG traded down $0.23 during trading on Monday, hitting $24.73. The company had a trading volume of 325,740 shares, compared to its average volume of 3,300,795. Harley-Davidson has a 1-year low of $17.09 and a 1-year high of $31.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.66. The company has a market cap of $2.60 billion, a PE ratio of 14.04, a P/E/G ratio of 15.15 and a beta of 1.26. The business has a 50-day moving average of $24.62 and a 200-day moving average of $21.81.

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

Insider Activity

In other Harley-Davidson news, CFO Jonathan R. Root sold 1,554 shares of the business'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 directly owned 32,508 shares of the company's stock, valued at $787,018.68. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.00, for a total transaction of $40,664.00. Following the completion of the transaction, the insider owned 30,012 shares of the company's stock, valued at approximately $780,312. This trade represents a 4.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.97% of the company's stock.

Institutional Trading of Harley-Davidson

Several hedge funds have recently added to or reduced their stakes in HOG. Pinnacle Holdings LLC acquired a new position in shares of Harley-Davidson during the fourth quarter valued at $30,000. Fifth Third Bancorp lifted its holdings in Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock worth $36,000 after purchasing an additional 579 shares during the period. Versant Capital Management Inc grew its position in Harley-Davidson by 858.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,629 shares of the company's stock valued at $40,000 after buying an additional 1,459 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Harley-Davidson by 153.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock valued at $53,000 after buying an additional 1,278 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in Harley-Davidson by 1,758.9% during the 1st quarter. Bessemer Group Inc. now owns 2,937 shares of the company's stock valued at $59,000 after buying an additional 2,779 shares during the period. Institutional investors own 85.10% of the company's stock.

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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