Citigroup Increases Harley-Davidson (NYSE:HOG) Price Target to $39.00

Harley-Davidson (NYSE:HOG) had its target price hoisted by Citigroup from $37.00 to $39.00 in a research report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently weighed in on HOG. Robert W. Baird boosted their price objective on Harley-Davidson from $40.00 to $44.00 and gave the stock an outperform rating in a research report on Friday, July 26th. UBS Group lifted their target price on Harley-Davidson from $39.00 to $40.00 and gave the stock a neutral rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $46.00.

Harley-Davidson Stock Down 2.4 %

HOG opened at $38.58 on Thursday. Harley-Davidson has a fifty-two week low of $25.43 and a fifty-two week high of $44.16. The firm has a market capitalization of $5.19 billion, a P/E ratio of 8.57, a PEG ratio of 1.28 and a beta of 1.44. The company’s 50-day moving average is $36.65 and its 200 day moving average is $36.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter last year, the firm earned $1.22 EPS. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts expect that Harley-Davidson will post 4.32 earnings per share for the current fiscal year.

Harley-Davidson announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 19.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Harley-Davidson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be given a dividend of $0.1725 per share. The ex-dividend date is Monday, September 16th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.79%. Harley-Davidson’s dividend payout ratio is presently 15.33%.

Institutional Investors Weigh In On Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in HOG. Quadrant Capital Group LLC increased its stake in shares of Harley-Davidson by 95.0% in the fourth quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock worth $29,000 after purchasing an additional 384 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Harley-Davidson during the 1st quarter valued at approximately $39,000. Principal Securities Inc. bought a new position in Harley-Davidson in the 4th quarter worth approximately $38,000. American National Bank purchased a new position in Harley-Davidson in the 1st quarter valued at approximately $52,000. Finally, Neo Ivy Capital Management bought a new stake in Harley-Davidson during the 4th quarter valued at $50,000. 85.10% of the stock is owned by hedge funds and other institutional investors.

Harley-Davidson Company Profile

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.