Harley-Davidson (NYSE:HOG) Stock Price Up 5.9% - Here's What Happened

Key Points

• Shares jumped 5.9% to $19.55 on Thursday but on light volume (down ~64% vs. average), trading below its 200‑day moving average ($23.06) and near the 50‑day ($19.39).
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and a $21.67 target, while individual price targets range from $12 (Morgan Stanley) to $24 (BMO) following several recent downgrades and reviews.
• Fundamentals show a weak quarterly print—EPS of ($2.44) missed estimates though revenue was $496.2M (down 9.8% YoY)—and management raised the quarterly dividend to $0.1875 (annualized $0.75, ~3.9% yield).

Shares of Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) shot up 5.9% during trading on Thursday . The company traded as high as $19.68 and last traded at $19.5530. 1,294,614 shares traded hands during trading, a decline of 64% from the average session volume of 3,579,494 shares. The stock had previously closed at $18.47.

Analysts Set New Price Targets

HOG has been the topic of a number of research analyst reports. Wells Fargo & Company began coverage on Harley-Davidson in a report on Wednesday, March 11th. They issued an "underweight" rating and a $15.00 target price on the stock. Citigroup dropped their price target on Harley-Davidson from $28.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, January 14th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $24.00 price objective on shares of Harley-Davidson in a research note on Wednesday, February 11th. Wall Street Zen cut Harley-Davidson from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Morgan Stanley reissued an "underweight" rating and set a $12.00 target price on shares of Harley-Davidson in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $21.67.

Harley-Davidson Trading Up 4.8%

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 7.43 and a beta of 1.42. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $19.39 and a 200-day moving average price of $23.06.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of ($0.92) by ($1.52). Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The company had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. During the same period last year, the firm posted ($0.93) earnings per share. The business's revenue was down 9.8% on a year-over-year basis. As a group, research analysts expect that Harley-Davidson, Inc. will post 3.44 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.9%. This is a boost from Harley-Davidson's previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 2nd. Harley-Davidson's payout ratio is currently 28.74%.

Insiders Place Their Bets

In other Harley-Davidson news, Director James D. Farley, Jr. sold 6,454 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total value of $120,754.34. Following the transaction, the director owned 16,205 shares in the company, valued at $303,195.55. The trade was a 28.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Rafeh Masood acquired 2,775 shares of the firm's stock in a transaction on Friday, February 27th. The stock was purchased at an average cost of $18.00 per share, with a total value of $49,950.00. Following the completion of the transaction, the director owned 7,480 shares in the company, valued at $134,640. The trade was a 58.98% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.93% of the stock is currently owned by company insiders.

Institutional Trading of Harley-Davidson

A number of hedge funds and other institutional investors have recently modified their holdings of HOG. EverSource Wealth Advisors LLC boosted its holdings in Harley-Davidson by 139.0% in the third quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company's stock valued at $26,000 after purchasing an additional 549 shares during the last quarter. Pinnacle Holdings LLC purchased a new stake in Harley-Davidson during the 4th quarter worth approximately $30,000. Fifth Third Bancorp raised its position in shares of Harley-Davidson by 48.9% in the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock valued at $36,000 after purchasing an additional 579 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of 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 purchasing an additional 1,278 shares in the last quarter. Finally, Westfuller Advisors LLC purchased a new position in shares of Harley-Davidson during the 3rd quarter valued at approximately $67,000. 85.10% of the stock is owned by hedge funds and other institutional investors.

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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