Robert W. Baird Forecasts Strong Price Appreciation for Harley-Davidson (NYSE:HOG) Stock

Harley-Davidson (NYSE:HOG) had its price objective boosted by Robert W. Baird from $28.00 to $30.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 12.88% from the stock’s previous close.

HOG has been the topic of a number of other reports. Zacks Research upgraded Harley-Davidson from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Wells Fargo & Company lifted their target price on Harley-Davidson from $15.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, May 6th. UBS Group boosted their target price on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Morgan Stanley raised their price target on shares of Harley-Davidson from $12.00 to $15.00 and gave the company an “underweight” rating in a report on Tuesday, May 19th. Finally, Griffin Securities set a $30.00 price objective on shares of Harley-Davidson in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Harley-Davidson presently has an average rating of “Hold” and a consensus price target of $25.89.

Harley-Davidson Price Performance

Shares of HOG opened at $26.58 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.66 and a current ratio of 1.91. The company has a 50 day moving average price of $25.15 and a 200-day moving average price of $22.33. Harley-Davidson has a fifty-two week low of $17.09 and a fifty-two week high of $31.25. The stock has a market capitalization of $2.80 billion, a PE ratio of 15.10, a PEG ratio of 18.57 and a beta of 1.26.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. Harley-Davidson’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Equities analysts predict that Harley-Davidson will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other Harley-Davidson news, CFO Jonathan R. Root sold 1,554 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.44, for a total value of $37,979.76. Following the completion of the sale, the chief financial officer owned 29,400 shares of the company’s stock, valued at approximately $718,536. This trade represents a 5.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul J. Krause sold 1,564 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $26.00, for a total transaction of $40,664.00. Following the completion of the transaction, the insider directly owned 30,012 shares of the company’s stock, valued at $780,312. The trade was a 4.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,672 shares of company stock worth $116,266 over the last ninety days. 0.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HOG. Donald Smith & CO. Inc. grew its holdings in Harley-Davidson by 30.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 8,899,204 shares of the company’s stock worth $182,345,000 after acquiring an additional 2,095,477 shares during the period. Bank of America Corp DE lifted its stake in shares of Harley-Davidson by 456.7% in the 1st quarter. Bank of America Corp DE now owns 1,735,378 shares of the company’s stock valued at $35,089,000 after purchasing an additional 1,423,675 shares during the period. Aegis Financial Corp acquired a new position in shares of Harley-Davidson in the 1st quarter valued at $27,681,000. Norges Bank purchased a new stake in Harley-Davidson during the fourth quarter worth $25,766,000. Finally, SG Americas Securities LLC increased its holdings in Harley-Davidson by 1,277.0% in the fourth quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock valued at $22,418,000 after buying an additional 1,014,660 shares in the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Harley-Davidson

Here are the key news stories impacting Harley-Davidson this week:

• Positive Sentiment: Harley-Davidson reported adjusted Q2 earnings of $0.75 per share, above consensus, and raised its full-year outlook, signaling management sees improving momentum in the business. Harley-Davidson Delivers Second Quarter Financial Results and Raises Full-Year Guidance
• Positive Sentiment: Strong North American sales helped support the outlook, with the company saying domestic retail performance and dealer inventory discipline are improving the turnaround story. Harley-Davidson Raises Outlook on Strong North American Sales
• Positive Sentiment: Bank of America Securities reiterated its Buy rating on Harley-Davidson, which may reinforce investor confidence after the report. Bank of America Securities Sticks to Their Buy Rating for Harley-Davidson (HOG)
• Neutral Sentiment: Analysts highlighted that Q2 earnings and revenue both topped estimates, but the quarter still showed a year-over-year decline in revenue and earnings versus last year. Harley-Davidson (HOG) Q2 Earnings Beat Estimates
• Neutral Sentiment: Reuters noted that Harley-Davidson’s results were pressured by higher raw material costs, even as the company lifted its annual forecast. Harley-Davidson posts lower quarterly results as raw material costs rise
• Negative Sentiment: Some coverage focused on disappointing Q2 motorcycle deliveries and the revenue decline, which likely explains why the shares are trading lower despite the guidance raise. Harley-Davidson (HOG) Stock Declines Following Disappointing Q2 Motorcycle Deliveries

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.