Harley-Davidson (NYSE:HOG) Price Target Raised to $33.00

Key Points

• DA Davidson raised Harley-Davidson’s price target to $33 from $30 and maintained a “buy” rating, implying 20.75% upside from the prior close.
• Analyst sentiment remains mixed: Harley-Davidson has a consensus “hold” rating and an average target price of $26.44, despite recent upgrades from some firms.
• The company exceeded quarterly earnings and revenue expectations, reporting EPS of $0.75 and revenue of $1.23 billion, while revenue declined 5.9% year over year. Insiders have also been net buyers, purchasing 57,500 shares over the past three months.

Harley-Davidson (NYSE:HOG - Get Free Report) had its target price boosted by DA Davidson from $30.00 to $33.00 in a 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 20.75% from the stock's previous close.

A number of other equities research analysts have also issued reports on HOG. UBS Group raised their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Harley-Davidson from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Morgan Stanley raised their target price on Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 28th. Loop Capital upgraded Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a report on Monday, July 20th. Finally, Griffin Securities set a $30.00 price target on Harley-Davidson in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Harley-Davidson currently has a consensus rating of "Hold" and a consensus target price of $26.44.

Harley-Davidson Price Performance

NYSE:HOG traded down $0.45 during trading hours on Monday, hitting $27.33. The stock had a trading volume of 151,837 shares, compared to its average volume of 3,141,743. The company has a 50 day simple moving average of $25.71 and a two-hundred day simple moving average of $22.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. Harley-Davidson has a one year low of $17.09 and a one year high of $31.25. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 18.84 and a beta of 1.27.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The firm's quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts forecast that Harley-Davidson will post 0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel J. Nova purchased 40,000 shares of the stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $24.57 per share, with a total value of $982,800.00. Following the transaction, the director directly owned 47,605 shares in the company, valued at $1,169,654.85. This trade represents a 525.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gayle Littleton bought 7,500 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $26.38 per share, for a total transaction of $197,850.00. Following the purchase, the chief accounting officer owned 7,500 shares of the company's stock, valued at approximately $197,850. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 57,500 shares of company stock valued at $1,439,550 and sold 4,662 shares valued at $114,266. Insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management lifted its holdings in Harley-Davidson by 4.7% in the third quarter. Triumph Capital Management now owns 10,171 shares of the company's stock worth $284,000 after purchasing an additional 454 shares during the period. State of Michigan Retirement System increased its stake in Harley-Davidson by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 28,461 shares of the company's stock valued at $575,000 after buying an additional 500 shares during the period. Fifth Third Bancorp increased its stake in Harley-Davidson by 48.9% during the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock valued at $36,000 after buying an additional 579 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Harley-Davidson by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,251 shares of the company's stock worth $490,000 after buying an additional 600 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its position in shares of Harley-Davidson by 3.4% during the 3rd quarter. Dark Forest Capital Management LP now owns 26,445 shares of the company's stock worth $738,000 after buying an additional 872 shares in the last quarter. 85.10% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source