Citigroup Begins Coverage on Harley-Davidson (NYSE:HOG)
Several other brokerages also recently weighed in on HOG. Royal Bank of Canada reaffirmed an underperform rating and set a $17.00 target price (down from $36.00) on shares of Harley-Davidson in a research note on Monday, March 16th. Wolfe Research raised Harley-Davidson from a peer perform rating to an outperform rating and set a $28.00 target price for the company in a research note on Thursday, June 25th. Argus raised Harley-Davidson from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Tuesday, May 5th. Cfra reduced their price objective on Harley-Davidson from $32.00 to $20.00 and set a hold rating for the company in a research note on Tuesday, April 28th. Finally, BMO Capital Markets increased their price objective on Harley-Davidson from $20.00 to $23.00 and gave the company a market perform rating in a research note on Wednesday, April 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $30.31.
Shares of NYSE:HOG opened at $25.59 on Monday. Harley-Davidson has a 12-month low of $14.31 and a 12-month high of $40.89. The company has a market capitalization of $3.86 billion, a PE ratio of 11.03, a PEG ratio of 3.42 and a beta of 1.44. The business has a 50 day moving average of $24.11 and a two-hundred day moving average of $26.80. The company has a current ratio of 1.09, a quick ratio of 0.95 and a debt-to-equity ratio of 2.67.
The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Thursday, May 21st. Harley-Davidson’s payout ratio is currently 2.38%.
In related news, Chairman Jochen Zeitz bought 97,850 shares of the company’s stock in a transaction on Friday, May 8th. The stock was bought at an average cost of $21.26 per share, for a total transaction of $2,080,291.00. Following the acquisition, the chairman now directly owns 97,850 shares in the company, valued at $2,080,291. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOG. Sailer Financial LLC acquired a new position in Harley-Davidson during the 4th quarter worth about $32,000. Verus Capital Partners LLC lifted its stake in Harley-Davidson by 26.7% during the 1st quarter. Verus Capital Partners LLC now owns 2,246 shares of the company’s stock worth $43,000 after acquiring an additional 473 shares in the last quarter. PSI Advisors LLC acquired a new position in Harley-Davidson during the 4th quarter worth about $51,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Harley-Davidson during the 4th quarter worth about $53,000. Finally, Tower Research Capital LLC TRC lifted its stake in Harley-Davidson by 134.4% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,121 shares of the company’s stock worth $78,000 after acquiring an additional 2,363 shares in the last quarter. Institutional investors and hedge funds own 92.58% of the company’s stock.
Harley-Davidson, Inc manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services.
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