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

Harley-Davidson (NYSE:HOG) had its target price reduced by Citigroup from $36.00 to $34.00 in a research report released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Other analysts have also issued reports about the company. Morgan Stanley assumed coverage on Harley-Davidson in a research report on Tuesday, April 23rd. They issued an overweight rating and a $50.00 target price for the company. DA Davidson boosted their target price on Harley-Davidson from $42.00 to $49.00 and gave the company a buy rating in a research report on Thursday, April 11th. UBS Group boosted their target price on Harley-Davidson from $29.00 to $39.00 and gave the company a neutral rating in a research report on Friday, February 16th. BMO Capital Markets cut their price target on Harley-Davidson from $50.00 to $45.00 and set an outperform rating for the company in a research note on Friday, April 26th. Finally, Bank of America lifted their price target on Harley-Davidson from $50.00 to $55.00 and gave the company a buy rating in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $46.00.

Harley-Davidson Stock Performance

HOG stock opened at $32.51 on Wednesday. The stock has a 50-day moving average price of $36.35 and a 200-day moving average price of $36.36. Harley-Davidson has a 1-year low of $25.43 and a 1-year high of $44.16. The company has a current ratio of 1.54, a quick ratio of 1.32 and a debt-to-equity ratio of 1.50. The firm has a market cap of $4.37 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.47.

Harley-Davidson (NYSE:HOG) last issued its earnings results on Thursday, April 25th. The company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.24. Harley-Davidson had a return on equity of 19.48% and a net margin of 11.03%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. As a group, equities research analysts expect that Harley-Davidson will post 4.64 earnings per share for the current year.

Harley-Davidson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Wednesday, June 5th will be paid a $0.1725 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 2.12%. Harley-Davidson’s payout ratio is presently 15.33%.

Hedge Funds Weigh In On Harley-Davidson

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Harley-Davidson by 47.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,057 shares of the company’s stock worth $41,955,000 after buying an additional 410,648 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Harley-Davidson by 15.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,241,888 shares of the company’s stock worth $193,115,000 after buying an additional 689,363 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Harley-Davidson in the 4th quarter worth approximately $1,133,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of Harley-Davidson in the 4th quarter worth approximately $1,696,000. Finally, Alps Advisors Inc. raised its holdings in shares of Harley-Davidson by 29.7% in the 3rd quarter. Alps Advisors Inc. now owns 10,365 shares of the company’s stock worth $343,000 after purchasing an additional 2,375 shares during the period. Hedge funds and other institutional investors 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.