Harley-Davidson (NYSE:HOG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Over the past 60 days, the Zacks Consensus Estimate for Harley-Davidson’s quarterly estimates has gone up. The company is making long-term investments with an aim to expand its product portfolio and market its products. This strategy is expected to drive customer growth for the company. Also, an improved financial position enables it to pay dividends and boost shareholder confidence in Harley-Davidson. However, continuous decline in worldwide retail sales, macroeconomic challenges in some regions as well as higher manufacturing costs are a few concerns for the company. Also, in the last six months, Harley-Davidson’s shares have underperformed the industry it belongs to.”
A number of other research analysts also recently commented on the company. Goldman Sachs Group downgraded Harley-Davidson to a “hold” rating and set a $43.00 price objective on the stock. in a report on Wednesday. Longbow Research downgraded Harley-Davidson from a “neutral” rating to an “underperform” rating in a report on Wednesday. Wedbush increased their price objective on Harley-Davidson from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, December 7th. Argus upgraded Harley-Davidson from a “hold” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Friday, October 20th. Finally, TheStreet downgraded Harley-Davidson from a “b-” rating to a “c+” rating in a research note on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. Harley-Davidson presently has an average rating of “Hold” and a consensus price target of $52.82.
Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Tuesday, October 17th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Harley-Davidson had a return on equity of 28.69% and a net margin of 11.68%. The business had revenue of $962.10 million for the quarter, compared to the consensus estimate of $959.41 million. During the same quarter in the prior year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 11.9% on a year-over-year basis. sell-side analysts forecast that Harley-Davidson will post 3.43 earnings per share for the current year.
In other Harley-Davidson news, Director Jochen Zeitz sold 1,859 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $47.80, for a total transaction of $88,860.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lawrence G. Hund sold 8,660 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $46.88, for a total value of $405,980.80. The disclosure for this sale can be found here. Insiders have sold a total of 58,726 shares of company stock worth $2,816,641 in the last 90 days. 0.70% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new stake in Harley-Davidson during the 3rd quarter worth approximately $166,000. TLP Group LLC acquired a new stake in Harley-Davidson during the 2nd quarter worth approximately $255,000. Parametrica Management Ltd acquired a new stake in Harley-Davidson during the 3rd quarter worth approximately $269,000. IFM Investors Pty Ltd acquired a new stake in Harley-Davidson during the 3rd quarter worth approximately $280,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Harley-Davidson by 22.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,080 shares of the company’s stock worth $294,000 after acquiring an additional 1,100 shares during the period. 97.18% of the stock is owned by institutional investors.
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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