Harley-Davidson (NYSE:HOG) PT Raised to $39.00

Harley-Davidson (NYSE:HOG) had its price objective lifted by Citigroup from $37.00 to $39.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the stock. UBS Group boosted their target price on shares of Harley-Davidson from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, August 23rd. Robert W. Baird raised their price target on shares of Harley-Davidson from $40.00 to $44.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $46.00.

Harley-Davidson Trading Down 2.4 %

Shares of Harley-Davidson stock opened at $38.58 on Thursday. The company has a market cap of $5.19 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The firm has a 50-day simple moving average of $36.65 and a two-hundred day simple moving average of $36.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. Harley-Davidson has a fifty-two week low of $25.43 and a fifty-two week high of $44.16.

Harley-Davidson (NYSE:HOG) last released its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.23. The business had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 earnings per share. As a group, equities analysts predict that Harley-Davidson will post 4.32 earnings per share for the current fiscal year.

Harley-Davidson announced that its Board of Directors has initiated a share buyback plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Harley-Davidson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Monday, September 16th. Harley-Davidson’s dividend payout ratio is currently 15.33%.

Institutional Investors Weigh In On Harley-Davidson

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Harley-Davidson by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,428,716 shares of the company’s stock valued at $587,372,000 after purchasing an additional 452,536 shares during the period. Illinois Municipal Retirement Fund boosted its stake in Harley-Davidson by 42.7% during the first quarter. Illinois Municipal Retirement Fund now owns 80,010 shares of the company’s stock worth $3,500,000 after buying an additional 23,958 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Harley-Davidson during the fourth quarter worth about $1,133,000. LSV Asset Management boosted its stake in Harley-Davidson by 17.3% during the second quarter. LSV Asset Management now owns 5,705,775 shares of the company’s stock worth $191,372,000 after buying an additional 842,407 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Harley-Davidson during the fourth quarter worth about $1,696,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

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.