Citigroup Cuts Harley-Davidson (NYSE:HOG) Price Target to $34.00

Harley-Davidson (NYSE:HOG) had its price target reduced by analysts at Citigroup from $39.00 to $34.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 6.32% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. UBS Group increased their target price on shares of Harley-Davidson from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Robert W. Baird cut shares of Harley-Davidson from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $44.00 to $40.00 in a research report on Wednesday, October 2nd. Bank of America dropped their price objective on shares of Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Finally, Baird R W cut Harley-Davidson from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.29.

Harley-Davidson Stock Up 1.0 %

Shares of HOG traded up $0.31 during midday trading on Friday, reaching $31.98. The stock had a trading volume of 1,446,132 shares, compared to its average volume of 1,737,376. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 1.28 and a beta of 1.44. The company’s fifty day simple moving average is $36.63 and its two-hundred day simple moving average is $35.86. Harley-Davidson has a 1-year low of $25.43 and a 1-year high of $44.16. 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 quarterly earnings results on Thursday, October 24th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. The company had revenue of $881.21 million for the quarter, compared to analysts’ expectations of $970.25 million. Harley-Davidson had a return on equity of 20.33% and a net margin of 11.92%. Equities research analysts expect that Harley-Davidson will post 4.19 earnings per share for the current year.

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

Institutional Investors Weigh In On Harley-Davidson

Institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in Harley-Davidson during the 1st quarter worth approximately $39,000. Signaturefd LLC lifted its position in shares of Harley-Davidson by 46.8% in the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock worth $63,000 after buying an additional 597 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Harley-Davidson by 19.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after buying an additional 322 shares during the period. GAMMA Investing LLC grew its position in shares of Harley-Davidson by 19.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock valued at $67,000 after buying an additional 320 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Harley-Davidson by 23.5% in the third quarter. Blue Trust Inc. now owns 3,659 shares of the company’s stock worth $141,000 after acquiring an additional 697 shares during the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

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.