Harley-Davidson (NYSE:HOG) Price Target Cut to $34.00 by Analysts at Citigroup

Harley-Davidson (NYSE:HOG) had its price objective dropped by equities research analysts at Citigroup from $39.00 to $34.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 6.75% from the stock’s current price.

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

Harley-Davidson Price Performance

Shares of NYSE:HOG opened at $31.85 on Friday. The company has a market cap of $4.19 billion, a P/E ratio of 6.49, a P/E/G ratio of 1.59 and a beta of 1.44. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 1.44. Harley-Davidson has a 52 week low of $25.43 and a 52 week high of $44.16. The business has a fifty day simple moving average of $36.54 and a 200-day simple moving average of $35.73.

Harley-Davidson (NYSE:HOG) last announced its quarterly earnings data on Thursday, October 24th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.09. Harley-Davidson had a return on equity of 20.33% and a net margin of 11.92%. The business had revenue of $881.21 million during the quarter, compared to the consensus estimate of $970.25 million. Equities research analysts forecast that Harley-Davidson will post 4.03 EPS for the current year.

Harley-Davidson announced that its Board of Directors 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 buy up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Harley-Davidson

Several institutional investors and hedge funds have recently modified their holdings of HOG. Future Financial Wealth Managment LLC purchased a new stake in shares of Harley-Davidson in the first quarter worth about $39,000. Diversified Trust Co lifted its stake in shares of Harley-Davidson by 17.2% in the first quarter. Diversified Trust Co now owns 100,374 shares of the company’s stock worth $4,390,000 after acquiring an additional 14,751 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Harley-Davidson by 2.6% in the first quarter. State of Michigan Retirement System now owns 31,161 shares of the company’s stock worth $1,363,000 after acquiring an additional 800 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Harley-Davidson by 0.3% in the first quarter. Retirement Systems of Alabama now owns 159,149 shares of the company’s stock worth $6,961,000 after acquiring an additional 420 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Harley-Davidson in the first quarter worth about $212,000. 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.