Harley-Davidson Inc. (HOG) Receives New Coverage from Analysts at Jefferies Group
Jefferies Group initiated coverage on shares of Harley-Davidson Inc. (NYSE:HOG) in a research note issued to investors on Friday morning. The brokerage issued a hold rating and a $49.00 price objective on the stock.
A number of other brokerages have also recently issued reports on HOG. Wells Fargo & Co. cut shares of Harley-Davidson from an outperform rating to a market perform rating in a research note on Friday, July 29th. Vetr cut shares of Harley-Davidson from a hold rating to a sell rating and set a $51.00 price objective for the company. in a research note on Monday, August 8th. Longbow Research cut shares of Harley-Davidson from a neutral rating to an underperform rating and dropped their price objective for the company from $52.57 to $40.00 in a research note on Monday, August 29th. Citigroup Inc. restated a buy rating and issued a $51.00 price objective on shares of Harley-Davidson in a research note on Monday, June 13th. Finally, Goldman Sachs Group Inc. cut shares of Harley-Davidson from a buy rating to a neutral rating and dropped their price objective for the company from $55.00 to $50.00 in a research note on Monday, June 6th. Five investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $51.36.
Harley-Davidson (NYSE:HOG) traded down 0.38% during mid-day trading on Friday, reaching $52.39. 331,681 shares of the company traded hands. The stock’s 50-day moving average price is $52.62 and its 200-day moving average price is $48.89. Harley-Davidson has a one year low of $36.36 and a one year high of $57.33. The firm has a market cap of $9.46 billion, a PE ratio of 13.94 and a beta of 1.05.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.01. Harley-Davidson had a net margin of 13.23% and a return on equity of 34.33%. The company earned $1.86 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the prior year, the company posted $1.44 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Harley-Davidson will post $3.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Tuesday, September 13th were given a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.66%. Harley-Davidson’s payout ratio is presently 36.65%.
In other news, VP Paul J. Jones sold 2,517 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $54.03, for a total value of $135,993.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence G. Hund sold 12,537 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $53.23, for a total transaction of $667,344.51. Following the completion of the sale, the insider now directly owns 16,922 shares of the company’s stock, valued at approximately $900,758.06. The disclosure for this sale can be found here. 0.99% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in HOG. Natixis purchased a new stake in Harley-Davidson during the first quarter valued at $6,101,000. Envestnet Asset Management Inc. boosted its stake in Harley-Davidson by 6.4% in the first quarter. Envestnet Asset Management Inc. now owns 15,264 shares of the company’s stock valued at $784,000 after buying an additional 919 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Harley-Davidson during the first quarter valued at $538,000. National Pension Service boosted its stake in Harley-Davidson by 4.6% in the first quarter. National Pension Service now owns 138,247 shares of the company’s stock valued at $7,096,000 after buying an additional 6,034 shares in the last quarter. Finally, Dodge & Cox boosted its stake in Harley-Davidson by 20.9% in the first quarter. Dodge & Cox now owns 9,327,733 shares of the company’s stock valued at $478,793,000 after buying an additional 1,614,713 shares in the last quarter. 94.90% of the stock is owned by institutional investors.
Harley-Davidson Company Profile
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road l Harley-Davidson motorcycles, as well as a line of motorcycle parts, accessories, general merchandise and related services.
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