Harley-Davidson (NYSE:HOG) Upgraded by StockNews.com to “Buy”

Posted by Defense World Staff on Mar 14th, 2023

StockNews.com upgraded shares of Harley-Davidson (NYSE:HOG – Get Rating) from a hold rating to a buy rating in a research report released on Monday.

HOG has been the subject of a number of other reports. Jefferies Financial Group started coverage on shares of Harley-Davidson in a report on Tuesday, November 15th. They issued an underperform rating and a $39.00 target price for the company. Morgan Stanley upped their price objective on shares of Harley-Davidson from $48.00 to $50.00 and gave the company an equal weight rating in a report on Wednesday, March 1st. DA Davidson upped their price objective on shares of Harley-Davidson from $44.00 to $47.00 and gave the company a neutral rating in a report on Monday, February 6th. Finally, Citigroup set a $49.00 price objective on shares of Harley-Davidson in a report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $49.38.

Harley-Davidson Stock Performance

Shares of Harley-Davidson stock opened at $38.67 on Monday. The company has a market capitalization of $5.65 billion, a PE ratio of 7.78, a P/E/G ratio of 1.39 and a beta of 1.39. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.08 and a current ratio of 1.34. The company has a 50-day simple moving average of $45.86 and a two-hundred day simple moving average of $43.12. Harley-Davidson has a one year low of $29.80 and a one year high of $51.77.

Harley-Davidson (NYSE:HOG – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.21. The business had revenue of $918.70 million during the quarter, compared to the consensus estimate of $910.04 million. Harley-Davidson had a net margin of 13.35% and a return on equity of 27.23%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Research analysts expect that Harley-Davidson will post 4.68 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Friday, March 3rd will be given a $0.165 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $0.66 dividend on an annualized basis and a yield of 1.71%. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.16. Harley-Davidson’s dividend payout ratio is currently 13.28%.

Insider Activity at Harley-Davidson

In other Harley-Davidson news, SVP Jonathan R. Root sold 2,239 shares of the company’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $50.17, for a total value of $112,330.63. Following the sale, the senior vice president now owns 5,474 shares in the company, valued at approximately $274,630.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.62% of the stock is owned by insiders.

Institutional Investors Weigh In On Harley-Davidson

Several hedge funds have recently bought and sold shares of the stock. Prelude Capital Management LLC boosted its position in Harley-Davidson by 3.4% in the 3rd quarter. Prelude Capital Management LLC now owns 8,624 shares of the company’s stock worth $301,000 after purchasing an additional 282 shares in the last quarter. Pacific Global Investment Management Co. boosted its position in Harley-Davidson by 2.0% in the 3rd quarter. Pacific Global Investment Management Co. now owns 14,937 shares of the company’s stock worth $521,000 after purchasing an additional 297 shares in the last quarter. State of Michigan Retirement System boosted its position in Harley-Davidson by 0.9% in the 4th quarter. State of Michigan Retirement System now owns 33,861 shares of the company’s stock worth $1,409,000 after purchasing an additional 300 shares in the last quarter. Fifth Third Bancorp boosted its position in Harley-Davidson by 5.5% in the 4th quarter. Fifth Third Bancorp now owns 6,423 shares of the company’s stock worth $267,000 after purchasing an additional 334 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Harley-Davidson by 4.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,300 shares of the company’s stock valued at $346,000 after buying an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 83.96% of the company’s stock.

About Harley-Davidson

(Get Rating)

Harley-Davidson, Inc is engaged in the manufacture and sale of custom, cruiser, and touring motorcycles. It operates through the following segments: Motorcycles & Related Products and Financial Services. The Motorcycles & Related Products segment manufactures, designs, and sells at wholesale on-road Harley-Davidson motorcycles as well as motorcycle parts, accessories, general merchandise, and related services.