Wall Street Zen downgraded shares of Harley-Davidson (NYSE:HOG – Free Report) from a hold rating to a sell rating in a research report report published on Sunday,Wall Street Zen reports.
A number of other brokerages have also recently commented on HOG. Loop Capital raised Harley-Davidson from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Monday, July 20th. Griffin Securities set a $33.00 target price on Harley-Davidson in a report on Monday, August 17th. UBS Group lifted their price target on shares of Harley-Davidson from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. DA Davidson boosted their price target on shares of Harley-Davidson from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Finally, Citigroup upped their price objective on shares of Harley-Davidson from $27.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Harley-Davidson currently has an average rating of “Hold” and an average price target of $27.44.
Read Our Latest Research Report on Harley-Davidson
Harley-Davidson Price Performance
Harley-Davidson (NYSE:HOG – Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.65 by $0.10. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts anticipate that Harley-Davidson will post 0.56 earnings per share for the current fiscal year.
Harley-Davidson Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, September 15th. Harley-Davidson’s dividend payout ratio (DPR) is currently 46.01%.
Insider Buying and Selling
In related news, CEO Artie Starrs purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $25.89 per share, with a total value of $258,900.00. Following the transaction, the chief executive officer owned 25,000 shares of the company’s stock, valued at $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 can be accessed through the SEC website. Also, Director Daniel J. Nova acquired 40,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were bought at an average price of $24.57 per share, for a total transaction 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. This represents a 525.97% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 57,500 shares of company stock worth $1,439,550 and have sold 4,662 shares worth $119,316. 0.97% of the stock is currently owned by corporate insiders.
Institutional Trading of Harley-Davidson
Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its position in shares of Harley-Davidson by 294.6% during the second quarter. Engineers Gate Manager LP now owns 99,046 shares of the company’s stock valued at $2,423,000 after purchasing an additional 73,946 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Harley-Davidson during the second quarter worth about $242,000. Allworth Financial LP grew its position in Harley-Davidson by 98.5% in the 2nd quarter. Allworth Financial LP now owns 7,810 shares of the company’s stock worth $191,000 after purchasing an additional 3,876 shares in the last quarter. Nykredit A S bought a new stake in Harley-Davidson in the 2nd quarter worth about $88,000. Finally, Corient Private Wealth LP increased its stake in Harley-Davidson by 76.9% in the 2nd quarter. Corient Private Wealth LP now owns 27,833 shares of the company’s stock valued at $681,000 after buying an additional 12,098 shares during the last quarter. Institutional investors own 85.10% of the company’s stock.
Harley-Davidson Company Profile
Harley-Davidson, Inc is a Milwaukee, Wisconsin-based motorcycle company founded in 1903. Through its Harley-Davidson Motor Company business, it designs, manufactures and sells heavyweight motorcycles known for their touring, cruiser and performance-oriented models. The company also markets motorcycle parts, accessories, riding gear, apparel and branded merchandise.
Harley-Davidson sells its products through a network of independently owned dealerships and other distribution channels in North America and international markets, including Europe, the Middle East, Africa, Asia-Pacific and Latin America.
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