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

Key Points

• Robert W. Baird raised Harley-Davidson’s price target from $28 to $30 while keeping a neutral rating, implying about 12.9% upside from the prior close.
• Recent analyst views remain mixed, but the consensus on the stock is still Hold with an average target price of $25.89. Several firms recently lifted targets or ratings, including Loop Capital’s upgrade to Buy.
• Harley-Davidson’s latest quarter beat expectations on EPS and revenue and the company raised full-year guidance, though sales still declined year over year and some analysts pointed to weaker deliveries and higher raw material costs.

Harley-Davidson (NYSE:HOG - Get Free Report) had its price target increased by equities research analysts at Robert W. Baird from $28.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential upside of 12.88% from the company's previous close.

Several other equities analysts also recently commented on HOG. Zacks Research raised shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a report on Monday, April 27th. Morgan Stanley boosted their price target on shares of Harley-Davidson from $12.00 to $15.00 and gave the stock an "underweight" rating in a research note on Tuesday, May 19th. Citigroup increased their price objective on shares of Harley-Davidson from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Sunday, July 12th. Loop Capital raised Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research note on Monday. Finally, UBS Group raised their price target on Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Harley-Davidson has an average rating of "Hold" and a consensus target price of $25.89.

Harley-Davidson Price Performance

Shares of NYSE:HOG opened at $26.58 on Friday. The company has a market capitalization of $2.80 billion, a P/E ratio of 15.10, a P/E/G ratio of 18.57 and a beta of 1.26. Harley-Davidson has a 1-year low of $17.09 and a 1-year high of $31.25. The firm's 50 day simple moving average is $25.15 and its two-hundred day simple moving average is $22.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.66.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.10. Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Harley-Davidson's quarterly revenue was down 5.9% compared to the same quarter last year. Research analysts expect that Harley-Davidson will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Paul J. Krause sold 1,564 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $26.00, for a total value of $40,664.00. Following the sale, the insider owned 30,012 shares of the company's stock, valued at approximately $780,312. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Harley-Davidson stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total transaction of $37,979.76. Following the transaction, the chief financial officer directly owned 29,400 shares of the company's stock, valued at approximately $718,536. This represents a 5.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 4,672 shares of company stock valued at $116,266. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

Several hedge funds have recently bought and sold shares of the business. Donald Smith & CO. Inc. boosted its stake 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 valued at $182,345,000 after purchasing an additional 2,095,477 shares during the period. Boston Partners boosted its position in Harley-Davidson by 2.1% in the 3rd quarter. Boston Partners now owns 4,021,078 shares of the company's stock valued at $112,179,000 after buying an additional 84,516 shares during the period. State Street Corp grew its stake in Harley-Davidson by 1.7% in the 2nd quarter. State Street Corp now owns 3,757,709 shares of the company's stock worth $88,682,000 after acquiring an additional 64,118 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Harley-Davidson by 8.4% during the first quarter. Bank of New York Mellon Corp now owns 2,110,552 shares of the company's stock worth $42,675,000 after acquiring an additional 163,762 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Harley-Davidson by 456.7% during the first 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. Institutional investors own 85.10% of the company's stock.

Key Headlines Impacting Harley-Davidson

Here are the key news stories impacting Harley-Davidson this week:

• Positive Sentiment: Harley-Davidson reported adjusted Q2 earnings of $0.75 per share, above consensus, and raised its full-year outlook, signaling management sees improving momentum in the business. Harley-Davidson Delivers Second Quarter Financial Results and Raises Full-Year Guidance
• Positive Sentiment: Strong North American sales helped support the outlook, with the company saying domestic retail performance and dealer inventory discipline are improving the turnaround story. Harley-Davidson Raises Outlook on Strong North American Sales
• Positive Sentiment: Bank of America Securities reiterated its Buy rating on Harley-Davidson, which may reinforce investor confidence after the report. Bank of America Securities Sticks to Their Buy Rating for Harley-Davidson (HOG)
• Neutral Sentiment: Analysts highlighted that Q2 earnings and revenue both topped estimates, but the quarter still showed a year-over-year decline in revenue and earnings versus last year. Harley-Davidson (HOG) Q2 Earnings Beat Estimates
• Neutral Sentiment: Reuters noted that Harley-Davidson’s results were pressured by higher raw material costs, even as the company lifted its annual forecast. Harley-Davidson posts lower quarterly results as raw material costs rise
• Negative Sentiment: Some coverage focused on disappointing Q2 motorcycle deliveries and the revenue decline, which likely explains why the shares are trading lower despite the guidance raise. Harley-Davidson (HOG) Stock Declines Following Disappointing Q2 Motorcycle Deliveries

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.

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