Harley-Davidson, Inc. (HOG) Cut to Sell at Zacks Investment Research

Harley-Davidson, Inc. (NYSE:HOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, October 17th.

According to Zacks, “The Zacks Consensus Estimate for Harley-Davidson’s quarterly earnings has been going down of late. The company’s declining worldwide dealer retail sales due to excessive competitive pressures is a concern for the company. Other concerns faced by the company include higher product discounts, global economic uncertainty, high raw material costs and manufacturing expenses and currency fluctuations. Also, its shares have underperformed in the industry it belongs to, in the last six months.”

Several other research analysts have also issued reports on HOG. BidaskClub raised shares of Harley-Davidson from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. UBS AG reissued a “neutral” rating and issued a $57.00 price target on shares of Harley-Davidson in a research report on Monday, June 26th. Jefferies Group LLC reissued a “hold” rating and issued a $49.00 price target on shares of Harley-Davidson in a research report on Tuesday, July 4th. ValuEngine raised shares of Harley-Davidson from a “hold” rating to a “buy” rating in a research note on Friday, July 7th. Finally, Sanford C. Bernstein cut shares of Harley-Davidson from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company. Harley-Davidson presently has a consensus rating of “Hold” and an average target price of $52.50.

Shares of Harley-Davidson (HOG) traded down 1.97% on Tuesday, hitting $47.84. The stock had a trading volume of 1,542,233 shares. The firm has a market cap of $8.13 billion, a PE ratio of 14.93 and a beta of 0.87. The firm’s 50-day moving average price is $47.99 and its 200 day moving average price is $51.14. Harley-Davidson has a 52-week low of $45.25 and a 52-week high of $63.40.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, October 17th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Harley-Davidson had a net margin of 11.68% and a return on equity of 28.69%. The business had revenue of $962.10 million during the quarter, compared to analyst estimates of $959.41 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts predict that Harley-Davidson will post $3.43 EPS for the current year.

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In other Harley-Davidson news, CEO Matthew S. Levatich sold 19,447 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $48.36, for a total value of $940,456.92. Following the sale, the chief executive officer now directly owns 88,646 shares in the company, valued at $4,286,920.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John A. Olin sold 28,760 shares of the stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $48.03, for a total transaction of $1,381,342.80. Following the completion of the sale, the chief financial officer now owns 65,722 shares in the company, valued at $3,156,627.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,220 shares of company stock worth $3,030,113. Company insiders own 0.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Harley-Davidson by 1.5% in the second quarter. Vanguard Group Inc. now owns 17,684,083 shares of the company’s stock worth $955,294,000 after purchasing an additional 267,352 shares during the period. Capital Research Global Investors raised its holdings in shares of Harley-Davidson by 605.1% during the second quarter. Capital Research Global Investors now owns 16,732,599 shares of the company’s stock worth $903,895,000 after acquiring an additional 14,359,571 shares during the period. BlackRock Inc. raised its holdings in shares of Harley-Davidson by 1.5% during the second quarter. BlackRock Inc. now owns 10,724,574 shares of the company’s stock worth $579,342,000 after acquiring an additional 154,675 shares during the period. Independent Franchise Partners LLP raised its holdings in shares of Harley-Davidson by 53.3% during the third quarter. Independent Franchise Partners LLP now owns 8,101,285 shares of the company’s stock worth $390,562,000 after acquiring an additional 2,815,749 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Harley-Davidson by 1.0% during the second quarter. LSV Asset Management now owns 4,044,113 shares of the company’s stock worth $218,462,000 after acquiring an additional 39,699 shares during the period. Institutional investors own 91.14% of the company’s stock.

About Harley-Davidson

Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.

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