Harley-Davidson (NYSE:HOG) Reaches New 52-Week High - Should You Buy?

Key Points

• Harley-Davidson shares reached a new 52-week high, trading around $29.15 after rising 6.3%; the company’s market capitalization is approximately $3.03 billion.
• Analyst sentiment remains mixed: the stock has an average rating of “Hold” and an average price target of $28.20, below its recent trading price, although some firms have issued Buy ratings with targets as high as $33.
• The company beat quarterly earnings and revenue expectations, but revenue declined 5.9% year over year. Harley-Davidson also maintains a $0.1875 quarterly dividend, while insiders have been net buyers of the stock in the past 90 days.

Shares of Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $29.06 and last traded at $29.1480, with a volume of 1,242,174 shares changing hands. The stock had previously closed at $27.34.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings lowered shares of Harley-Davidson from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Robert W. Baird increased their price objective on Harley-Davidson from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, July 24th. Wall Street Zen raised Harley-Davidson from a "sell" rating to a "hold" rating in a research note on Saturday, October 10th. DA Davidson boosted their target price on Harley-Davidson from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, Loop Capital upgraded Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 target price on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $28.20.

Harley-Davidson Stock Up 6.3%

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. The stock has a market capitalization of $3.03 billion, a PE ratio of 17.84, a PEG ratio of 8.94 and a beta of 1.30. The company has a 50 day moving average price of $26.93 and a 200-day moving average price of $25.48.

Harley-Davidson (NYSE:HOG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, analysts forecast that Harley-Davidson, Inc. will post 0.56 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a $0.1875 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.75 annualized dividend and a yield of 2.6%. Harley-Davidson's payout ratio is 46.01%.

Insiders Place Their Bets

In other Harley-Davidson news, CEO Artie Starrs acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $25.89 per share, with a total value of $258,900.00. Following the completion of the transaction, the chief executive officer directly owned 25,000 shares of the company's stock, valued at approximately $647,250. This represents a 66.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel Nova bought 40,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were bought at an average price of $24.57 per share, with a total value of $982,800.00. Following the completion of the purchase, the director owned 47,605 shares in the company, valued at approximately $1,169,654.85. The trade was a 525.97% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 57,500 shares of company stock valued at $1,439,550 and sold 4,667 shares valued at $119,423. 0.97% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

Hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of Harley-Davidson during the 2nd quarter valued at approximately $942,000. Robinson Value Management Ltd. purchased a new stake in Harley-Davidson during the 1st quarter valued at $3,215,000. Jefferies Financial Group Inc. bought a new stake in Harley-Davidson in the second quarter worth $992,000. Sei Investments Co. lifted its position in Harley-Davidson by 100.8% in the first quarter. Sei Investments Co. now owns 228,009 shares of the company's stock worth $4,608,000 after buying an additional 114,441 shares during the last quarter. Finally, Caxton Associates LLP bought a new stake in Harley-Davidson in the first quarter worth $957,000. Institutional investors own 85.10% of the company's stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a Milwaukee-based company that designs, manufactures and sells heavyweight motorcycles. Its product portfolio includes touring, cruiser, standard and adventure-touring motorcycles sold under the Harley-Davidson brand, as well as electric motorcycles offered through its LiveWire business.

The company also provides motorcycle parts, accessories, apparel and related merchandise. Through Harley-Davidson Financial Services, it offers financing and insurance products to motorcycle dealers and retail customers in supported markets.

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