Robert W. Baird Lowers Harley-Davidson (NYSE:HOG) to Neutral

by · The Cerbat Gem

Robert W. Baird downgraded shares of Harley-Davidson (NYSE:HOG – Free Report) from an outperform rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $40.00 price objective on the stock, down from their previous price objective of $44.00.

Several other equities research analysts have also issued reports on the company. UBS Group upped their price target on Harley-Davidson from $39.00 to $40.00 and gave the company a neutral rating in a research report on Friday, August 23rd. Citigroup boosted their target price on Harley-Davidson from $37.00 to $39.00 and gave the stock a neutral rating in a report on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $45.43.

Check Out Our Latest Stock Report on Harley-Davidson

Harley-Davidson Stock Performance

Shares of HOG stock opened at $34.78 on Wednesday. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. The company has a 50 day moving average price of $37.06 and a 200 day moving average price of $36.67. Harley-Davidson has a one year low of $25.43 and a one year high of $44.16.

Harley-Davidson (NYSE:HOG – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.23. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. Harley-Davidson’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. Sell-side analysts anticipate that Harley-Davidson will post 4.32 EPS for the current year.

Harley-Davidson announced that its Board of Directors has approved a stock buyback program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 19.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend was Monday, September 16th. Harley-Davidson’s dividend payout ratio (DPR) is currently 15.33%.

Institutional Investors Weigh In On Harley-Davidson

Several hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its position in shares of Harley-Davidson by 2.2% in the fourth quarter. US Bancorp DE now owns 16,023 shares of the company’s stock worth $590,000 after purchasing an additional 346 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Harley-Davidson during the 4th quarter worth about $225,000. Allianz Asset Management GmbH lifted its holdings in shares of Harley-Davidson by 3.9% during the 4th quarter. Allianz Asset Management GmbH now owns 145,740 shares of the company’s stock valued at $5,369,000 after buying an additional 5,442 shares during the last quarter. TFO Wealth Partners LLC grew its stake in shares of Harley-Davidson by 42,011.1% in the 4th quarter. TFO Wealth Partners LLC now owns 3,790 shares of the company’s stock valued at $140,000 after buying an additional 3,781 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in Harley-Davidson in the fourth quarter worth approximately $374,000. 85.10% of the stock is owned by hedge funds and other institutional investors.

About Harley-Davidson

(Get Free Report)

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.

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