Harley-Davidson (NYSE:HOG) Rating Lowered to Neutral at Robert W. Baird

Harley-Davidson (NYSE:HOG) was downgraded by equities researchers at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report released on Wednesday, FinViz reports. They currently have a $40.00 price target on the stock, down from their previous price target of $44.00. Robert W. Baird’s price objective suggests a potential upside of 5.21% from the stock’s current price.

A number of other research firms have also recently weighed in on HOG. Citigroup increased their price objective on Harley-Davidson from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. 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. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.43.

Harley-Davidson Price Performance

Harley-Davidson stock opened at $38.02 on Wednesday. Harley-Davidson has a 12-month low of $25.43 and a 12-month high of $44.16. 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 stock has a market cap of $5.11 billion, a P/E ratio of 8.45, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The company has a fifty day simple moving average of $37.08 and a 200-day simple moving average of $36.72.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, topping 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 company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the company earned $1.22 earnings per share. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts expect that Harley-Davidson will post 4.32 EPS for the current fiscal year.

Harley-Davidson declared that its Board of Directors has approved a share buyback program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Harley-Davidson

Several institutional investors and hedge funds have recently modified their holdings of HOG. Future Financial Wealth Managment LLC purchased a new position in Harley-Davidson in the 1st quarter valued at about $39,000. Neo Ivy Capital Management acquired a new stake in Harley-Davidson during the 4th quarter valued at approximately $50,000. American National Bank acquired a new position in shares of Harley-Davidson in the 1st quarter valued at approximately $52,000. Signaturefd LLC grew its position in shares of Harley-Davidson by 46.8% during the second quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock worth $63,000 after buying an additional 597 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Harley-Davidson by 19.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock worth $66,000 after acquiring an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.

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.