Harley-Davidson, Inc. (HOG) Cut to Market Perform at Sanford C. Bernstein

Harley-Davidson, Inc. (NYSE:HOG) was downgraded by research analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, July 12th, Marketbeat reports. They currently have a $55.00 price target on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 15.69% from the company’s current price.

Several other research firms have also recently issued reports on HOG. Tigress Financial reiterated a “buy” rating on shares of Harley-Davidson in a research report on Friday, March 17th. Raymond James Financial, Inc. upgraded shares of Harley-Davidson from an “underperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. DA Davidson upgraded shares of Harley-Davidson from an “underperform” rating to a “market perform” rating in a research report on Wednesday, April 12th. Royal Bank Of Canada lifted their price objective on shares of Harley-Davidson from $58.00 to $60.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $49.00 price objective on shares of Harley-Davidson in a research report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.83.

Shares of Harley-Davidson (NYSE:HOG) opened at 47.54 on Wednesday. Harley-Davidson has a one year low of $46.00 and a one year high of $63.40. The company has a market capitalization of $8.29 billion, a PE ratio of 13.92 and a beta of 0.84. The stock has a 50 day moving average of $50.61 and a 200-day moving average of $55.49.

Harley-Davidson (NYSE:HOG) last released its earnings results on Tuesday, July 18th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. Harley-Davidson had a net margin of 12.30% and a return on equity of 30.51%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the business earned $1.55 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that Harley-Davidson will post $3.39 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of HOG. BlackRock Inc. raised its stake in shares of Harley-Davidson by 2,897.2% in the first quarter. BlackRock Inc. now owns 10,569,899 shares of the company’s stock worth $639,479,000 after buying an additional 10,217,239 shares in the last quarter. Dodge & Cox bought a new stake in shares of Harley-Davidson during the fourth quarter worth about $517,798,000. Impala Asset Management LLC raised its stake in shares of Harley-Davidson by 60.2% in the second quarter. Impala Asset Management LLC now owns 2,077,434 shares of the company’s stock worth $112,223,000 after buying an additional 780,371 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Harley-Davidson by 3.2% in the first quarter. Vanguard Group Inc. now owns 17,416,731 shares of the company’s stock worth $1,053,712,000 after buying an additional 534,966 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its stake in shares of Harley-Davidson by 68.3% in the second quarter. Great West Life Assurance Co. Can now owns 1,171,502 shares of the company’s stock worth $63,177,000 after buying an additional 475,539 shares in the last quarter. 85.14% of the stock is owned by hedge funds and other institutional investors.

About Harley-Davidson

Harley-Davidson, Inc is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) and the Financial Services. The Motorcycles segment consists of HDMC, which designs, manufactures and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise and related services.

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