DA Davidson Forecasts Strong Price Appreciation for Harley-Davidson (NYSE:HOG) Stock

Harley-Davidson (NYSE:HOG) had its price objective raised by equities researchers at DA Davidson from $30.00 to $33.00 in a note issued to investors on Monday,Benzinga reports. The firm 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 current price.

Several other research firms have also recently weighed in on HOG. Zacks Research raised Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Morgan Stanley raised their price target on shares of Harley-Davidson from $15.00 to $17.00 and gave the stock an “underweight” rating in a report on Tuesday, July 28th. Loop Capital raised shares of Harley-Davidson from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Monday, July 20th. Weiss Ratings raised shares of Harley-Davidson from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Griffin Securities set a $30.00 price objective on shares of Harley-Davidson in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.44.

Harley-Davidson Price Performance

HOG stock traded down $0.45 on Monday, hitting $27.33. 151,837 shares of the company’s stock traded hands, compared to its average volume of 3,141,743. The stock has a market cap 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 has a 1-year low of $17.09 and a 1-year high of $31.25. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $25.71 and a 200-day moving average of $22.91.

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

Insider Activity at Harley-Davidson

In related news, CFO Jonathan R. Root sold 1,554 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $24.88, for a total value of $38,663.52. Following the sale, the chief financial officer owned 27,846 shares of the company’s stock, valued at $692,808.48. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gayle Littleton acquired 7,500 shares of the stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $26.38 per share, for a total transaction of $197,850.00. Following the completion of the purchase, the chief accounting officer owned 7,500 shares in the company, valued at approximately $197,850. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 57,500 shares of company stock worth $1,439,550 and have sold 4,662 shares worth $114,266. 0.97% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Harley-Davidson in the second quarter valued at about $45,065,000. Caisse de depot et placement du Quebec bought a new stake in Harley-Davidson during the 2nd quarter worth about $636,000. Odyssean LLC acquired a new stake in Harley-Davidson in the 2nd quarter valued at about $516,000. Man Group plc acquired a new stake in Harley-Davidson in the 2nd quarter valued at about $5,975,000. Finally, Jupiter Topco LLC bought a new position in shares of Harley-Davidson in the second quarter worth about $1,275,000. Institutional investors own 85.10% of the company’s stock.

Harley-Davidson Company Profile

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.