Harley-Davidson, Inc. (NYSE:HOG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.
According to Zacks, “Harley-Davidson’s shares have substantially underperformed the industry it belongs to, in the last six months. Stiff competition and macro-economic challenges in some regions are expected to continue hurting the company’s sales. Weakness in the Financial Services segment, high raw material costs and manufacturing expenses are other concerns for Harley-Davidson. However, the company has been improving its financial position. Additionally, the company is focused on geographical and product expansion as well as increasing shareholder returns.”
HOG has been the topic of several other research reports. Jefferies Group LLC reissued a “hold” rating and set a $ 49.00 price objective on shares of Harley-Davidson in a report on Tuesday, July 4th. BidaskClub raised Harley-Davidson from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. UBS AG reissued a “neutral” rating and set a $ 57.00 price objective on shares of Harley-Davidson in a report on Monday, June 26th. Tigress Financial reissued a “buy” rating on shares of Harley-Davidson in a report on Friday, July 21st. Finally, Aegis assumed coverage on Harley-Davidson in a report on Monday, August 28th. They set a “hold” rating and a $ 49.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $ 52.38.
Harley-Davidson (NYSE HOG) traded down 0.723% during midday trading on Wednesday, hitting $ 45.985. The company had a trading volume of 854,642 shares. Harley-Davidson has a one year low of $ 45.53 and a one year high of $ 63.40. The company has a market cap of $ 7.84 billion, a P/E ratio of 13.329 and a beta of 0.87. The company’s 50 day moving average is $ 47.72 and its 200-day moving average is $ 52.22.
Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $ 1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $ 1.38 by $ 0.10. Harley-Davidson had a return on equity of 30.51% and a net margin of 12.30%. The company had revenue of $ 1.58 billion for the quarter, compared to analyst estimates of $ 1.60 billion. During the same quarter last year, the firm earned $ 1.55 EPS. Harley-Davidson’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Harley-Davidson will post $ 3.38 EPS for the current year.
In other Harley-Davidson news, insider Lawrence G. Hund sold 15,013 shares of Harley-Davidson stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $ 47.18, for a total value of $ 708,313.34. Following the completion of the transaction, the insider now owns 23,673 shares in the company, valued at approximately $ 1,116,892.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of HOG. UBS Asset Management Americas Inc. raised its position in Harley-Davidson by 8.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 480,527 shares of the company’s stock valued at $ 29,072,000 after purchasing an additional 37,779 shares during the last quarter. JPMorgan Chase & Co. raised its position in Harley-Davidson by 147.2% in the 1st quarter. JPMorgan Chase & Co. now owns 158,155 shares of the company’s stock valued at $ 9,569,000 after purchasing an additional 94,170 shares during the last quarter. Victory Capital Management Inc. raised its position in Harley-Davidson by 19.9% in the 1st quarter. Victory Capital Management Inc. now owns 17,287 shares of the company’s stock valued at $ 1,046,000 after purchasing an additional 2,875 shares during the last quarter. Alliancebernstein L.P. raised its position in Harley-Davidson by 8.7% in the 1st quarter. Alliancebernstein L.P. now owns 338,965 shares of the company’s stock valued at $ 20,507,000 after purchasing an additional 27,125 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Harley-Davidson by 3.8% in the 1st quarter. OppenheimerFunds Inc. now owns 11,816 shares of the company’s stock valued at $ 715,000 after purchasing an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.
Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which 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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