Harley-Davidson (NYSE:HOG) Price Target Cut to $28.00 by Analysts at Citigroup

Harley-Davidson (NYSE:HOG) had its price target trimmed by Citigroup from $29.00 to $28.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

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

Harley-Davidson Price Performance

HOG opened at $25.54 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.19 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.18 billion, a P/E ratio of 7.67, a PEG ratio of 0.38 and a beta of 1.49. The stock has a 50-day moving average price of $26.08 and a 200-day moving average price of $30.63. Harley-Davidson has a 12-month low of $23.81 and a 12-month high of $43.89.

Harley-Davidson (NYSE:HOG) last issued its earnings results on Wednesday, February 5th. The company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.28). Harley-Davidson had a return on equity of 13.64% and a net margin of 9.25%. During the same period in the previous year, the business posted $0.18 earnings per share. Equities analysts predict that Harley-Davidson will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.18 per share. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend was Friday, February 28th. Harley-Davidson’s payout ratio is presently 21.62%.

Insiders Place Their Bets

In other news, insider Luke Christopher Mansfield sold 3,400 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $25.96, for a total transaction of $88,264.00. Following the sale, the insider now owns 23,555 shares in the company, valued at approximately $611,487.80. The trade was a 12.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Harley-Davidson

Several large investors have recently made changes to their positions in the business. Cerity Partners LLC increased its position in Harley-Davidson by 3.7% during the 3rd quarter. Cerity Partners LLC now owns 24,158 shares of the company’s stock valued at $931,000 after buying an additional 858 shares in the last quarter. Townsquare Capital LLC bought a new position in shares of Harley-Davidson during the third quarter valued at $214,000. Verition Fund Management LLC raised its position in shares of Harley-Davidson by 35.2% in the 3rd quarter. Verition Fund Management LLC now owns 97,805 shares of the company’s stock worth $3,768,000 after purchasing an additional 25,472 shares during the last quarter. Paloma Partners Management Co bought a new position in Harley-Davidson in the 3rd quarter worth about $339,000. Finally, Centiva Capital LP grew its position in Harley-Davidson by 103.8% during the 3rd quarter. Centiva Capital LP now owns 24,989 shares of the company’s stock valued at $963,000 after purchasing an additional 12,725 shares during the last quarter. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

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.