Harley-Davidson (NYSE:HOG) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Harley-Davidson (NYSE:HOG) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage issued an underweight rating and a $15.00 target price on the stock.

Several other research firms have also recently issued reports on HOG. Zacks Research cut Harley-Davidson from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. UBS Group reduced their target price on Harley-Davidson from $27.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. DA Davidson decreased their price target on Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Robert W. Baird set a $22.00 price target on Harley-Davidson in a report on Wednesday, February 11th. Finally, Loop Capital initiated coverage on Harley-Davidson in a research report on Tuesday, November 25th. They set a “hold” rating and a $21.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Harley-Davidson presently has a consensus rating of “Hold” and a consensus target price of $21.67.

Harley-Davidson Price Performance

HOG opened at $18.19 on Wednesday. The firm has a market cap of $2.03 billion, a PE ratio of 6.97 and a beta of 1.42. The stock has a 50-day moving average price of $20.01 and a 200-day moving average price of $23.86. Harley-Davidson has a 1 year low of $17.11 and a 1 year high of $31.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.10 and a quick ratio of 1.83.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($2.44) EPS for the quarter, missing the consensus estimate of ($0.92) by ($1.52). The firm had revenue of $496.16 million for the quarter, compared to analysts’ expectations of $482.21 million. Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same period last year, the company posted ($0.93) earnings per share. Sell-side analysts predict that Harley-Davidson will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 17th. Investors of record on Monday, March 2nd will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.18. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.1%. Harley-Davidson’s payout ratio is 28.74%.

Insider Activity at Harley-Davidson

In other Harley-Davidson news, Director James D. Farley, Jr. sold 6,454 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total transaction of $120,754.34. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rafeh Masood purchased 2,775 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the completion of the transaction, the director directly owned 7,480 shares of the company’s stock, valued at approximately $134,640. This trade represents a 58.98% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Harley-Davidson

A number of institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings in Harley-Davidson by 139.0% during the third quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock valued at $26,000 after purchasing an additional 549 shares during the period. Pinnacle Holdings LLC purchased a new position in shares of Harley-Davidson during the 4th quarter valued at about $30,000. Fifth Third Bancorp lifted its position in shares of Harley-Davidson by 48.9% during the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after buying an additional 579 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Harley-Davidson by 153.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after acquiring an additional 1,278 shares during the period. Finally, Westfuller Advisors LLC bought a new position in shares of Harley-Davidson during the 3rd quarter valued at approximately $67,000. 85.10% of the stock is owned by institutional investors.

About Harley-Davidson

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.