Morgan Stanley Issues Pessimistic Forecast for Harley-Davidson (NYSE:HOG) Stock Price

Harley-Davidson (NYSE:HOG) had its price target decreased by investment analysts at Morgan Stanley from $25.00 to $21.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price suggests a potential downside of 9.25% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group cut their price target on Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Zacks Research cut shares of Harley-Davidson from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 28th. Griffin Securities set a $34.00 price objective on Harley-Davidson in a report on Monday, August 25th. Weiss Ratings upgraded shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Finally, DA Davidson lowered their price target on Harley-Davidson from $34.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, November 10th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Harley-Davidson currently has an average rating of “Hold” and a consensus price target of $28.86.

Harley-Davidson Stock Down 2.6%

Shares of HOG traded down $0.61 during mid-day trading on Wednesday, hitting $23.14. 737,190 shares of the company’s stock were exchanged, compared to its average volume of 2,078,973. The stock’s 50-day moving average is $27.27 and its 200-day moving average is $25.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.20 and a current ratio of 1.37. Harley-Davidson has a fifty-two week low of $20.45 and a fifty-two week high of $35.21. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 0.40 and a beta of 1.39.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $1.72. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Harley-Davidson had a net margin of 5.76% and a return on equity of 7.43%. On average, sell-side analysts anticipate that Harley-Davidson will post 3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Harley-Davidson

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Harley-Davidson by 139.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock valued at $26,000 after purchasing an additional 549 shares in the last quarter. Assetmark Inc. boosted its holdings in Harley-Davidson by 209.7% during the first quarter. Assetmark Inc. now owns 1,053 shares of the company’s stock worth $27,000 after buying an additional 713 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Harley-Davidson by 153.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock worth $53,000 after buying an additional 1,278 shares during the period. State of Wyoming purchased a new position in Harley-Davidson in the first quarter valued at about $54,000. Finally, UMB Bank n.a. boosted its stake in shares of Harley-Davidson by 68.3% during the 2nd quarter. UMB Bank n.a. now owns 2,198 shares of the company’s stock worth $52,000 after acquiring an additional 892 shares in the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

About Harley-Davidson

Harley-Davidson, Inc manufactures and sells motorcycles in the United States and internationally. The company operates in three segments: Harley-Davidson Motor Company, LiveWire, and Harley-Davidson Financial Services. The Harley-Davidson Motor Company segment designs, manufactures, and sells motorcycles, including cruiser, trike, touring, standard, sportbike, adventure, and dual sport, as well as motorcycle parts, accessories, and apparel, as well as licenses its trademarks and related services.