Morgan Stanley Boosts Harley-Davidson (NYSE:HOG) Price Target to $15.00

Key Points

• Morgan Stanley raised its price target on Harley-Davidson to $15 from $12, but kept an underweight rating, implying significant downside from the stock’s prior close.
• Analyst sentiment remains mixed overall: Harley-Davidson now has an average Hold rating and a consensus price target of $24.22, with several firms recently adjusting their outlooks.
• The company’s latest earnings showed a miss on EPS at $0.22 versus $0.34 expected, even though revenue of $1.17 billion came in above estimates; revenue still declined 11.7% year over year.

Harley-Davidson (NYSE:HOG - Get Free Report) had its price objective hoisted by research analysts at Morgan Stanley from $12.00 to $15.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price target would indicate a potential downside of 38.38% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group lifted their target price on shares of Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. BMO Capital Markets reissued an "outperform" rating and set a $24.00 target price on shares of Harley-Davidson in a research note on Wednesday, February 11th. Weiss Ratings raised shares of Harley-Davidson from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Harley-Davidson from $15.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Finally, Robert W. Baird set a $28.00 target price on shares of Harley-Davidson in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $24.22.

Harley-Davidson Stock Performance

HOG opened at $24.34 on Tuesday. The business's 50 day moving average is $21.59 and its 200-day moving average is $21.69. The stock has a market cap of $2.56 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 9.41 and a beta of 1.27. The company has a current ratio of 1.91, a quick ratio of 1.66 and a debt-to-equity ratio of 0.37. Harley-Davidson has a twelve month low of $17.09 and a twelve month high of $31.25.

Harley-Davidson (NYSE:HOG - Get Free Report) last posted 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 firm had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company's revenue for the quarter was down 11.7% on a year-over-year basis. On average, analysts predict that Harley-Davidson will post 0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Rafeh Masood bought 2,775 shares of the business's stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $18.00 per share, with a total value of $49,950.00. Following the transaction, the director directly owned 7,480 shares in the company, valued at approximately $134,640. The trade was a 58.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James D. Farley, Jr. sold 6,454 shares of the business's stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total transaction of $120,754.34. Following the transaction, the director directly owned 16,205 shares of the company's stock, valued at approximately $303,195.55. This represents a 28.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd increased its holdings in shares of Harley-Davidson by 6.7% during the 3rd quarter. Covestor Ltd now owns 7,057 shares of the company's stock worth $197,000 after purchasing an additional 442 shares during the period. Triumph Capital Management increased its holdings in shares of Harley-Davidson by 4.7% during the 3rd 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 holdings in shares of Harley-Davidson by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 28,461 shares of the company's stock worth $575,000 after purchasing an additional 500 shares during the period. Allworth Financial LP increased its holdings in shares of Harley-Davidson by 13.7% during the 3rd quarter. Allworth Financial LP now owns 4,314 shares of the company's stock worth $120,000 after purchasing an additional 519 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Harley-Davidson by 139.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company's stock worth $26,000 after purchasing an additional 549 shares during the period. Institutional investors own 85.10% of the company's stock.

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.

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.