Harley-Davidson (NYSE:HOG) Price Target Raised to $33.00

Harley-Davidson (NYSE:HOG) had its target price boosted by DA Davidson from $30.00 to $33.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price would indicate a potential upside of 20.75% from the stock’s previous close.

A number of other equities research analysts have also issued reports on HOG. UBS Group raised their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Harley-Davidson from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Morgan Stanley raised their target price on Harley-Davidson from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 28th. Loop Capital upgraded Harley-Davidson from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Monday, July 20th. Finally, Griffin Securities set a $30.00 price target on Harley-Davidson in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Harley-Davidson currently has a consensus rating of “Hold” and a consensus target price of $26.44.

Harley-Davidson Price Performance

NYSE:HOG traded down $0.45 during trading hours on Monday, hitting $27.33. The stock had a trading volume of 151,837 shares, compared to its average volume of 3,141,743. The company has a 50 day simple moving average of $25.71 and a two-hundred day simple moving average of $22.91. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.90 and a quick ratio of 1.70. Harley-Davidson has a one year low of $17.09 and a one year high of $31.25. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 18.84 and a beta of 1.27.

Harley-Davidson (NYSE:HOG) last announced its earnings results on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.10. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Research analysts forecast that Harley-Davidson will post 0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel J. Nova purchased 40,000 shares of the stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $24.57 per share, with a total value of $982,800.00. Following the transaction, the director directly owned 47,605 shares in the company, valued at $1,169,654.85. This trade represents a 525.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gayle Littleton bought 7,500 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $26.38 per share, for a total transaction of $197,850.00. Following the purchase, the chief accounting officer owned 7,500 shares of the company’s stock, valued at approximately $197,850. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 57,500 shares of company stock valued at $1,439,550 and sold 4,662 shares valued at $114,266. Insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management lifted its holdings in Harley-Davidson by 4.7% in the third quarter. Triumph Capital Management now owns 10,171 shares of the company’s stock worth $284,000 after purchasing an additional 454 shares during the period. State of Michigan Retirement System increased its stake in Harley-Davidson by 1.8% during the 1st quarter. State of Michigan Retirement System now owns 28,461 shares of the company’s stock valued at $575,000 after buying an additional 500 shares during the period. Fifth Third Bancorp increased its stake in Harley-Davidson by 48.9% during the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after buying an additional 579 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Harley-Davidson by 2.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,251 shares of the company’s stock worth $490,000 after buying an additional 600 shares in the last quarter. Finally, Dark Forest Capital Management LP raised its position in shares of Harley-Davidson by 3.4% during the 3rd quarter. Dark Forest Capital Management LP now owns 26,445 shares of the company’s stock worth $738,000 after buying an additional 872 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

About Harley-Davidson

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.