Harley-Davidson (NYSE:HOG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $48.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 12.28% from the company’s current price.
According to Zacks, “Harley-Davidson’s earnings and revenues beat the Zacks Consensus Estimate in the first quarter. Compared with the year-ago figures, both top and bottom lines were higher. Further, it aims to launch 100 new motorcycles and anticipates an increase of 50% in yearly volume by 2027. Additionally, it is working toward improving its international reach. The company is making long-term investments to expand product portfolio. In March, the company announced that it invested in Alta Motors and both would team up to develop electric motorcycle technology while focusing on product developments. This is in sync with Harley-Davidson’s plan to launch electric motorcycles by 2019. However, declining worldwide sales and waning operating margin are concerns before the company. Moreover, Harley-Davidson maintained weak guidance for fiscal 2018.”
Several other analysts have also recently issued reports on HOG. Wells Fargo raised shares of Harley-Davidson from a “market perform” rating to an “outperform” rating and set a $59.00 price objective for the company in a research note on Monday, January 22nd. Longbow Research raised shares of Harley-Davidson from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 29th. Citigroup lowered their price objective on shares of Harley-Davidson from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. ValuEngine cut shares of Harley-Davidson from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Wedbush set a $44.00 price objective on shares of Harley-Davidson and gave the company a “hold” rating in a research note on Wednesday, April 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $50.31.
HOG stock traded up $0.07 during midday trading on Tuesday, hitting $42.75. The stock had a trading volume of 283,862 shares, compared to its average volume of 2,399,441. The stock has a market capitalization of $7.07 billion, a P/E ratio of 12.21, a PEG ratio of 1.38 and a beta of 0.89. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.96 and a current ratio of 1.11. Harley-Davidson has a 12-month low of $39.34 and a 12-month high of $56.95.
Harley-Davidson (NYSE:HOG) last released its earnings results on Tuesday, April 24th. The company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.16. The firm had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Harley-Davidson had a net margin of 10.31% and a return on equity of 32.45%. Harley-Davidson’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. research analysts forecast that Harley-Davidson will post 3.85 earnings per share for the current fiscal year.
Harley-Davidson announced that its Board of Directors has authorized a share repurchase plan on Monday, February 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Large investors have recently made changes to their positions in the stock. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in Harley-Davidson in the 1st quarter worth about $103,000. Banco de Sabadell S.A bought a new position in Harley-Davidson in the 1st quarter worth about $127,000. Ballew Advisors Inc bought a new position in Harley-Davidson in the 1st quarter worth about $134,000. Rampart Investment Management Company LLC grew its position in Harley-Davidson by 114.0% in the 1st quarter. Rampart Investment Management Company LLC now owns 4,932 shares of the company’s stock worth $211,000 after purchasing an additional 2,627 shares during the last quarter. Finally, IFG Advisory LLC bought a new position in Harley-Davidson in the 4th quarter worth about $239,000. 96.22% of the stock is owned by institutional investors and hedge funds.
Harley-Davidson Company Profile
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.
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