Goldman Sachs Cuts Harley-Davidson (HOG) Price Target to $45.00

Harley-Davidson (NYSE:HOG) had its price objective reduced by research analysts at Goldman Sachs from $47.00 to $45.00 in a research note issued to investors on Tuesday. Goldman Sachs’ target price indicates a potential upside of 7.04% from the stock’s previous close.

A number of other brokerages have also commented on HOG. Zacks Investment Research raised Harley-Davidson from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, February 2nd. Stifel Nicolaus lowered their price objective on Harley-Davidson from $54.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, January 31st. Wells Fargo lowered their price objective on Harley-Davidson from $59.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, February 1st. Wedbush set a $44.00 target price on Harley-Davidson and gave the company a “hold” rating in a research note on Wednesday, April 11th. Finally, Sanford C. Bernstein decreased their target price on Harley-Davidson from $52.00 to $45.00 and set a “market perform” rating for the company in a research note on Monday, March 26th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $51.06.

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Shares of NYSE HOG opened at $42.04 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.06 and a debt-to-equity ratio of 2.49. The stock has a market cap of $7,107.06, a PE ratio of 12.01, a P/E/G ratio of 1.40 and a beta of 0.88. Harley-Davidson has a 52 week low of $41.33 and a 52 week high of $60.18.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Harley-Davidson had a return on equity of 31.23% and a net margin of 10.62%. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS. research analysts expect that Harley-Davidson will post 3.76 earnings per share for the current year.

Harley-Davidson announced that its Board of Directors has authorized a stock repurchase plan on Monday, February 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Harley-Davidson news, VP Paul J. Jones sold 870 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $47.62, for a total value of $41,429.40. Following the completion of the sale, the vice president now owns 3,399 shares in the company, valued at approximately $161,860.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Tchernavia Rocker sold 1,401 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $47.74, for a total value of $66,883.74. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the business. Independent Franchise Partners LLP lifted its position in shares of Harley-Davidson by 1.5% in the 4th quarter. Independent Franchise Partners LLP now owns 8,224,166 shares of the company’s stock worth $418,445,000 after acquiring an additional 122,881 shares during the period. Kiltearn Partners LLP lifted its position in shares of Harley-Davidson by 14.1% in the 4th quarter. Kiltearn Partners LLP now owns 4,114,600 shares of the company’s stock worth $209,351,000 after acquiring an additional 508,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Harley-Davidson by 27.2% in the 4th quarter. Bank of New York Mellon Corp now owns 4,049,825 shares of the company’s stock worth $206,054,000 after acquiring an additional 866,348 shares during the period. Geode Capital Management LLC lifted its position in shares of Harley-Davidson by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,730,695 shares of the company’s stock worth $87,869,000 after acquiring an additional 27,799 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Harley-Davidson by 1.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,227,385 shares of the company’s stock worth $59,177,000 after acquiring an additional 12,203 shares during the period. Institutional investors own 95.87% of the company’s stock.

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About Harley-Davidson

Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services.

Analyst Recommendations for Harley-Davidson (NYSE:HOG)

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