Harley-Davidson (HOG) Price Target Cut to $40.00 by Analysts at Wells Fargo & Co

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Harley-Davidson (NYSE:HOG) had its price objective trimmed by Wells Fargo & Co from $46.00 to $40.00 in a research report report published on Tuesday, The Fly reports. The brokerage currently has an outperform rating on the stock.

HOG has been the topic of several other reports. Wolfe Research initiated coverage on Harley-Davidson in a research report on Tuesday, October 2nd. They set a peer perform rating and a $46.00 price target on the stock. ValuEngine raised Harley-Davidson from a strong sell rating to a sell rating in a research report on Tuesday, September 4th. Wedbush dropped their price target on Harley-Davidson from $42.00 to $40.00 and set a neutral rating on the stock in a research report on Thursday, October 4th. Royal Bank of Canada dropped their price target on Harley-Davidson from $45.00 to $43.00 and set a sector perform rating on the stock in a research report on Wednesday, October 17th. Finally, Goldman Sachs Group set a $45.00 target price on Harley-Davidson and gave the stock a hold rating in a research report on Tuesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $44.00.

Shares of NYSE HOG opened at $33.83 on Tuesday. Harley-Davidson has a 12 month low of $33.55 and a 12 month high of $56.50. The firm has a market cap of $5.53 billion, a PE ratio of 9.67, a P/E/G ratio of 1.09 and a beta of 1.09. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.08 and a quick ratio of 0.95.

Harley-Davidson (NYSE:HOG) last announced its earnings results on Tuesday, October 23rd. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.53 by $0.25. Harley-Davidson had a return on equity of 33.57% and a net margin of 9.30%. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business posted $0.40 earnings per share. Harley-Davidson’s revenue was up 16.8% compared to the same quarter last year. On average, research analysts anticipate that Harley-Davidson will post 3.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $1.48 annualized dividend and a yield of 4.37%. Harley-Davidson’s payout ratio is 42.29%.

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc boosted its stake in Harley-Davidson by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 17,623,452 shares of the company’s stock valued at $798,342,000 after purchasing an additional 232,373 shares during the period. Great Lakes Advisors LLC boosted its stake in Harley-Davidson by 1.8% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,624,121 shares of the company’s stock valued at $73,573,000 after purchasing an additional 29,428 shares during the period. Vanguard Group Inc. boosted its stake in Harley-Davidson by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,623,452 shares of the company’s stock valued at $798,342,000 after purchasing an additional 232,373 shares during the period. Dodge & Cox boosted its stake in Harley-Davidson by 13.2% during the 3rd quarter. Dodge & Cox now owns 9,767,376 shares of the company’s stock valued at $442,462,000 after purchasing an additional 1,141,650 shares during the period. Finally, Legal & General Group Plc boosted its stake in Harley-Davidson by 0.9% during the 3rd quarter. Legal & General Group Plc now owns 866,798 shares of the company’s stock valued at $39,266,000 after purchasing an additional 7,814 shares during the period. Hedge funds and other institutional investors own 88.36% of the company’s stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment 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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