Harley-Davidson (NYSE:HOG) Given New $26.00 Price Target at Citigroup

Harley-Davidson (NYSE:HOG) had its price objective lifted by Citigroup from $23.00 to $26.00 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on HOG. Weiss Ratings cut shares of Harley-Davidson from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price target on Harley-Davidson from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday. DA Davidson lowered their price target on Harley-Davidson from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Argus upgraded Harley-Davidson to a “strong-buy” rating in a report on Tuesday, February 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 price objective on shares of Harley-Davidson in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Harley-Davidson currently has a consensus rating of “Hold” and an average price target of $23.11.

Harley-Davidson Stock Down 0.9%

Shares of NYSE HOG opened at $23.64 on Thursday. Harley-Davidson has a one year low of $17.09 and a one year high of $31.25. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.91 and a quick ratio of 1.83. The firm’s 50 day simple moving average is $20.64 and its two-hundred day simple moving average is $21.79. The stock has a market capitalization of $2.58 billion, a P/E ratio of 13.43 and a beta of 1.27.

Harley-Davidson (NYSE:HOG) last issued its earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, analysts expect that Harley-Davidson will post 0.6 EPS for the current fiscal year.

Harley-Davidson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.1875 per share. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.75 annualized dividend and a dividend yield of 3.2%. Harley-Davidson’s payout ratio is currently 42.61%.

Insider Activity at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total transaction of $120,754.34. Following the sale, the director owned 16,205 shares in the company, valued at approximately $303,195.55. This represents a 28.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rafeh Masood purchased 2,775 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price of $18.00 per share, for a total transaction of $49,950.00. Following the acquisition, the director directly owned 7,480 shares in the company, valued at $134,640. This trade represents a 58.98% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in shares of Harley-Davidson by 139.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock worth $26,000 after purchasing an additional 549 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Harley-Davidson in the fourth quarter worth about $30,000. Fifth Third Bancorp raised its stake in shares of Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock worth $36,000 after purchasing an additional 579 shares during the last quarter. Geneos Wealth Management Inc. raised 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 valued at $53,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Harley-Davidson by 1,758.9% during the first quarter. Bessemer Group Inc. now owns 2,937 shares of the company’s stock valued at $59,000 after acquiring an additional 2,779 shares in the last quarter. Institutional investors own 85.10% of the company’s stock.

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.