Harley-Davidson (NYSE:HOG) Shares Gap Down to $38.02

Harley-Davidson, Inc. (NYSE:HOG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $38.02, but opened at $36.27. Harley-Davidson shares last traded at $36.63, with a volume of 297,557 shares changing hands.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Robert W. Baird lowered Harley-Davidson from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $44.00 to $40.00 in a report on Wednesday. UBS Group increased their price objective on Harley-Davidson from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Citigroup raised their target price on shares of Harley-Davidson from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Harley-Davidson presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.43.

Harley-Davidson Trading Down 3.1 %

The business has a 50 day moving average of $37.08 and a two-hundred day moving average of $36.72. The firm has a market cap of $4.95 billion, a P/E ratio of 8.45, a PEG ratio of 1.41 and a beta of 1.44. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 1.44.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.23. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The company’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. Analysts predict that Harley-Davidson, Inc. will post 4.32 earnings per share for the current year.

Harley-Davidson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were given a $0.1725 dividend. This represents a $0.69 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Monday, September 16th. Harley-Davidson’s payout ratio is 15.33%.

Harley-Davidson declared that its Board of Directors has authorized a share buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 19.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in HOG. Future Financial Wealth Managment LLC acquired a new position in shares of Harley-Davidson during the 1st quarter worth approximately $39,000. American National Bank bought a new position in Harley-Davidson during the 1st quarter worth $52,000. Neo Ivy Capital Management acquired a new position in Harley-Davidson in the 4th quarter valued at $50,000. Signaturefd LLC lifted its position in shares of Harley-Davidson by 46.8% during the 2nd quarter. Signaturefd LLC now owns 1,872 shares of the company’s stock valued at $63,000 after acquiring an additional 597 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Harley-Davidson by 19.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock worth $66,000 after purchasing an additional 322 shares in the last quarter. 85.10% of the stock is currently owned by 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.