Harley-Davidson (NYSE:HOG) PT Raised to $39.00

Harley-Davidson (NYSE:HOG) had its price objective increased by stock analysts at Citigroup from $37.00 to $39.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 1.04% from the stock’s previous close.

A number of other analysts also recently weighed in on HOG. Robert W. Baird increased their price target on shares of Harley-Davidson from $40.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, July 26th. UBS Group increased their price target on shares of Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Harley-Davidson Stock Performance

NYSE:HOG opened at $38.60 on Thursday. Harley-Davidson has a 1 year low of $25.43 and a 1 year high of $44.16. The firm’s fifty day simple moving average is $36.57 and its 200 day simple moving average is $36.80. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $5.19 billion, a PE ratio of 8.58, a PEG ratio of 1.28 and a beta of 1.44.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $1.22 EPS. The business’s revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Harley-Davidson will post 4.32 EPS for the current year.

Harley-Davidson declared that its board has approved a share repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Harley-Davidson

A number of hedge funds and other institutional investors have recently made changes to their positions in HOG. Private Advisor Group LLC bought a new position in Harley-Davidson during the 4th quarter valued at about $242,000. Principal Securities Inc. bought a new position in Harley-Davidson during the 4th quarter valued at about $38,000. Quadrant Capital Group LLC lifted its holdings in Harley-Davidson by 95.0% during the 4th quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock valued at $29,000 after purchasing an additional 384 shares during the last quarter. Norges Bank bought a new position in Harley-Davidson during the 4th quarter valued at about $51,860,000. Finally, Quest Partners LLC bought a new position in Harley-Davidson during the 4th quarter valued at about $273,000. 85.10% of the stock is owned by institutional investors.

Harley-Davidson Company Profile

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.