Harley-Davidson (NYSE:HOG) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Harley-Davidson (NYSE:HOG) from a hold rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Weiss Ratings upgraded Harley-Davidson from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. UBS Group boosted their price objective on Harley-Davidson from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Evercore raised Harley-Davidson from an “underperform” rating to an “outperform” rating and set a $33.00 target price for the company in a report on Monday, October 5th. Citigroup increased their target price on Harley-Davidson from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird lifted their price target on Harley-Davidson from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.91.

Harley-Davidson Stock Up 5.9%

NYSE HOG opened at $33.06 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -30.89, a PEG ratio of 8.26 and a beta of 1.30. The company has a 50 day moving average of $27.30 and a 200-day moving average of $24.02. Harley-Davidson has a 1-year low of $17.09 and a 1-year high of $33.38.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.07). Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $3.10 EPS. The business’s revenue was down 19.3% on a year-over-year basis. On average, equities research analysts expect that Harley-Davidson will post 0.69 earnings per share for the current fiscal year.

Harley-Davidson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Harley-Davidson’s dividend payout ratio (DPR) is -70.09%.

Insider Activity

In other Harley-Davidson news, CEO Artie Starrs acquired 10,000 shares of Harley-Davidson stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $25.89 per share, for a total transaction of $258,900.00. Following the completion of the acquisition, the chief executive officer directly owned 25,000 shares of the company’s stock, valued at $647,250. This represents a 66.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jonathan R. Root sold 1,559 shares of Harley-Davidson stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $24.43, for a total transaction of $38,086.37. Following the transaction, the chief financial officer owned 24,733 shares of the company’s stock, valued at $604,227.19. This represents a 5.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Harley-Davidson

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its position in shares of Harley-Davidson by 1.8% in the first quarter. State of Michigan Retirement System now owns 28,461 shares of the company’s stock valued at $575,000 after acquiring an additional 500 shares during the period. CX Institutional increased its holdings in Harley-Davidson by 62.4% during the 3rd quarter. CX Institutional now owns 1,445 shares of the company’s stock worth $35,000 after acquiring an additional 555 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in Harley-Davidson by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,251 shares of the company’s stock worth $490,000 after acquiring an additional 600 shares during the period. Versant Capital Management Inc increased its holdings in Harley-Davidson by 40.1% during the 3rd quarter. Versant Capital Management Inc now owns 2,282 shares of the company’s stock worth $56,000 after acquiring an additional 653 shares during the period. Finally, Syon Capital LLC lifted its stake in Harley-Davidson by 4.2% in the 2nd quarter. Syon Capital LLC now owns 16,333 shares of the company’s stock worth $400,000 after purchasing an additional 657 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a Milwaukee-based company that designs, manufactures and sells heavyweight motorcycles. Its product portfolio includes touring, cruiser, standard and adventure-touring motorcycles sold under the Harley-Davidson brand, as well as electric motorcycles offered through its LiveWire business.

The company also provides motorcycle parts, accessories, apparel and related merchandise. Through Harley-Davidson Financial Services, it offers financing and insurance products to motorcycle dealers and retail customers in supported markets.