Harley-Davidson (NYSE:HOG) Stock Rating Upgraded by Zacks Research

Key Points

• Harley-Davidson has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more positive outlook from previously bearish sentiments.
• Several brokerages have adjusted their target prices for Harley-Davidson, with a consensus target price now at $30.86.
• Harley-Davidson reported a 19.3% decrease in year-over-year revenue for the last quarter, with earnings per share of $0.88, missing estimates by $0.11.

Zacks Research upgraded shares of Harley-Davidson (NYSE:HOG - Free Report) from a strong sell rating to a hold rating in a report released on Monday, August 25th,Zacks.com reports.

Several other brokerages also recently issued reports on HOG. UBS Group cut their target price on shares of Harley-Davidson from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 8th. DA Davidson boosted their target price on shares of Harley-Davidson from $31.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Citigroup boosted their target price on shares of Harley-Davidson from $24.00 to $27.00 and gave the company a "neutral" rating in a research note on Monday, June 16th. Griffin Securities set a $34.00 target price on shares of Harley-Davidson in a research note on Monday, August 25th. Finally, Robert W. Baird boosted their target price on shares of Harley-Davidson from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $30.86.

Harley-Davidson Stock Performance

Shares of NYSE HOG traded up $0.34 during midday trading on Monday, hitting $29.16. 1,292,111 shares of the company's stock were exchanged, compared to its average volume of 1,900,883. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.37 and a quick ratio of 1.20. The stock's 50 day moving average price is $25.41 and its 200-day moving average price is $24.73. The firm has a market cap of $3.54 billion, a P/E ratio of 15.11, a PEG ratio of 0.43 and a beta of 1.31. Harley-Davidson has a twelve month low of $20.45 and a twelve month high of $39.93.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.99 by ($0.11). Harley-Davidson had a return on equity of 7.43% and a net margin of 5.76%.The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the company earned $1.63 earnings per share. The business's revenue for the quarter was down 19.3% on a year-over-year basis. Equities research analysts anticipate that Harley-Davidson will post 3.44 EPS for the current year.

Harley-Davidson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.5%. Harley-Davidson's dividend payout ratio is 37.31%.

Insider Buying and Selling at Harley-Davidson

In related news, Director Rafeh Masood purchased 2,068 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were acquired at an average cost of $24.06 per share, with a total value of $49,756.08. Following the completion of the purchase, the director owned 4,705 shares of the company's stock, valued at $113,202.30. The trade was a 78.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On Harley-Davidson

A number of large investors have recently bought and sold shares of HOG. Donald Smith & CO. Inc. boosted its holdings in Harley-Davidson by 61.8% in the second quarter. Donald Smith & CO. Inc. now owns 5,517,795 shares of the company's stock worth $130,220,000 after purchasing an additional 2,108,099 shares in the last quarter. Millennium Management LLC bought a new stake in Harley-Davidson in the first quarter worth $33,884,000. Brickwood Asset Management LLP bought a new stake in Harley-Davidson in the fourth quarter worth $27,783,000. Norges Bank bought a new stake in Harley-Davidson in the second quarter worth $21,607,000. Finally, Bank of New York Mellon Corp boosted its holdings in Harley-Davidson by 30.2% in the second quarter. Bank of New York Mellon Corp now owns 1,838,532 shares of the company's stock worth $43,389,000 after purchasing an additional 426,808 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.