Harley-Davidson (NYSE:HOG) Reaches New 52-Week High – Still a Buy?

Harley-Davidson, Inc. (NYSE:HOG – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday. The company traded as high as $34.65 and last traded at $34.3910, with a volume of 111,112 shares. The stock had previously closed at $33.32.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HOG. Wall Street Zen cut shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Saturday. Citigroup increased their target price on shares of Harley-Davidson from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. UBS Group raised their target price on shares of Harley-Davidson from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Bank of America reiterated a “buy” rating and issued a $35.00 price target on shares of Harley-Davidson in a research report on Friday, October 30th. Finally, Robert W. Baird increased their price target on Harley-Davidson from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.91.

View Our Latest Analysis on Harley-Davidson

Harley-Davidson Price Performance

The company has a quick ratio of 1.77, a current ratio of 1.97 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -32.36, a P/E/G ratio of 8.49 and a beta of 1.29. The business’s 50 day simple moving average is $27.40 and its 200-day simple moving average is $24.08.

Harley-Davidson (NYSE:HOG – Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.07). Harley-Davidson had a negative net margin of 3.31% and a negative return on equity of 4.26%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Harley-Davidson’s quarterly revenue was down 19.3% compared to the same quarter last year. On average, research analysts forecast that Harley-Davidson, Inc. will post 0.69 earnings per share for the current year.

Harley-Davidson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a dividend of $0.1875 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.2%. Harley-Davidson’s payout ratio is -70.09%.

Insiders Place Their Bets

In related news, CAO Gayle Littleton acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the transaction, the chief accounting officer directly owned 7,500 shares in the company, valued at $197,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Artie Starrs purchased 10,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $25.89 per share, with a total value of $258,900.00. Following the completion of the purchase, the chief executive officer directly owned 25,000 shares in the company, valued at $647,250. The trade was a 66.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Harley-Davidson in the second quarter valued at $249,395,000. Donald Smith & CO. Inc. acquired a new stake in Harley-Davidson during the 2nd quarter worth about $226,966,000. Bank of America Corp DE acquired a new stake in Harley-Davidson during the 2nd quarter worth about $45,065,000. Aegis Financial Corp acquired a new stake in Harley-Davidson during the 1st quarter worth about $27,681,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Harley-Davidson in the 2nd quarter worth about $28,347,000. 85.10% of the stock is owned by institutional investors and hedge funds.

About Harley-Davidson

(Get Free Report)

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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