Harley-Davidson (NYSE:HOG) Hits New 52-Week Low Following Analyst Downgrade

Harley-Davidson, Inc. (NYSE:HOG)’s share price hit a new 52-week low during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $29.00 to $28.00. Citigroup currently has a neutral rating on the stock. Harley-Davidson traded as low as $23.40 and last traded at $23.52, with a volume of 730043 shares trading hands. The stock had previously closed at $25.58.

A number of other analysts also recently issued reports on HOG. Bank of America cut their price objective on shares of Harley-Davidson from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, January 30th. UBS Group cut their price target on Harley-Davidson from $35.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Robert W. Baird lowered their price objective on Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 31st. Morgan Stanley cut their price target on shares of Harley-Davidson from $33.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Finally, DA Davidson decreased their price objective on shares of Harley-Davidson from $39.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.43.

Insider Activity

In other news, insider Luke Christopher Mansfield sold 3,400 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $25.96, for a total value of $88,264.00. Following the completion of the transaction, the insider now directly owns 23,555 shares in the company, valued at approximately $611,487.80. This represents a 12.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Harley-Davidson

Hedge funds and other institutional investors have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in Harley-Davidson by 172.0% during the 4th quarter. Venturi Wealth Management LLC now owns 876 shares of the company’s stock worth $26,000 after acquiring an additional 554 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Harley-Davidson by 237.9% during the fourth quarter. Bessemer Group Inc. now owns 1,301 shares of the company’s stock valued at $39,000 after acquiring an additional 916 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Harley-Davidson during the fourth quarter worth $42,000. Global Retirement Partners LLC grew its stake in shares of Harley-Davidson by 84.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,850 shares of the company’s stock worth $56,000 after purchasing an additional 846 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in Harley-Davidson by 201.8% in the fourth quarter. National Bank of Canada FI now owns 1,889 shares of the company’s stock valued at $57,000 after purchasing an additional 1,263 shares during the period. 85.10% of the stock is currently owned by institutional investors.

Harley-Davidson Stock Performance

The firm has a market capitalization of $2.93 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 0.38 and a beta of 1.49. The company has a 50-day moving average of $26.08 and a 200-day moving average of $30.63. The company has a current ratio of 1.40, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Wednesday, February 5th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.28). Harley-Davidson had a net margin of 9.25% and a return on equity of 13.64%. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, equities analysts anticipate that Harley-Davidson, Inc. will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.18 dividend. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, February 28th. Harley-Davidson’s dividend payout ratio (DPR) is currently 21.62%.

About Harley-Davidson

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.