Harley-Davidson Inc. (HOG) Rating Increased to Sector Perform at Royal Bank Of Canada
Harley-Davidson Inc. (NYSE:HOG) was upgraded by analysts at Royal Bank Of Canada from an “underperform” rating to a “sector perform” rating in a research report issued on Tuesday. The firm currently has a $57.00 price objective on the stock, up from their prior price objective of $46.00. Royal Bank Of Canada’s price target would suggest a potential downside of 1.18% from the company’s previous close.
A number of other analysts also recently commented on HOG. Wedbush reissued a “hold” rating on shares of Harley-Davidson in a report on Saturday, September 17th. Barclays PLC downgraded shares of Harley-Davidson from an “equal weight” rating to an “underperform” rating and decreased their price objective for the stock from $49.00 to $45.00 in a report on Friday, July 29th. BMO Capital Markets reissued an “outperform” rating and set a $66.00 price objective on shares of Harley-Davidson in a report on Sunday, October 23rd. RBC Capital Markets reissued an “underperform” rating and set a $43.00 price objective on shares of Harley-Davidson in a report on Friday, July 29th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $50.00 price objective on shares of Harley-Davidson in a report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $52.83.
Harley-Davidson (NYSE:HOG) opened at 57.68 on Tuesday. The firm has a market cap of $10.29 billion, a P/E ratio of 15.44 and a beta of 0.96. The firm has a 50 day moving average of $54.48 and a 200-day moving average of $50.43. Harley-Davidson has a 12 month low of $36.36 and a 12 month high of $61.35.
Harley-Davidson (NYSE:HOG) last issued its earnings results on Tuesday, October 18th. The company reported $0.64 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.09 billion. Harley-Davidson had a net margin of 12.86% and a return on equity of 35.49%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 earnings per share. On average, equities research analysts forecast that Harley-Davidson will post $3.88 earnings per share for the current year.
In other news, VP Paul J. Jones sold 2,517 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $54.03, for a total transaction of $135,993.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence G. Hund sold 28,271 shares of the firm’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $60.00, for a total value of $1,696,260.00. Following the transaction, the insider now owns 25,438 shares of the company’s stock, valued at approximately $1,526,280. The disclosure for this sale can be found here. Company insiders own 0.99% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. HL Financial Services LLC raised its position in shares of Harley-Davidson by 10.5% in the second quarter. HL Financial Services LLC now owns 1,051,021 shares of the company’s stock worth $47,611,000 after buying an additional 99,490 shares during the last quarter. Becker Capital Management Inc. raised its position in shares of Harley-Davidson by 17.1% in the second quarter. Becker Capital Management Inc. now owns 769,573 shares of the company’s stock worth $34,862,000 after buying an additional 112,533 shares during the last quarter. PGGM Investments raised its position in shares of Harley-Davidson by 29.1% in the second quarter. PGGM Investments now owns 777,640 shares of the company’s stock worth $35,227,000 after buying an additional 175,384 shares during the last quarter. MIG Capital LLC raised its position in shares of Harley-Davidson by 10.0% in the first quarter. MIG Capital LLC now owns 673,828 shares of the company’s stock worth $34,588,000 after buying an additional 61,152 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Harley-Davidson during the first quarter worth $39,568,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.
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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