Robert W. Baird Downgrades Harley-Davidson (NYSE:HOG) to Neutral

Robert W. Baird downgraded shares of Harley-Davidson (NYSE:HOG) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat reports. Robert W. Baird currently has $40.00 price objective on the stock, down from their previous price objective of $44.00.

A number of other research firms have also recently weighed in on HOG. UBS Group upped their target price on shares of Harley-Davidson from $39.00 to $40.00 and gave the company a neutral rating in a research note on Friday, August 23rd. Citigroup upped their price objective on Harley-Davidson from $37.00 to $39.00 and gave the company a neutral rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $45.43.

Harley-Davidson Trading Down 1.2 %

Harley-Davidson stock opened at $34.78 on Wednesday. Harley-Davidson has a 12 month low of $25.43 and a 12 month high of $44.16. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 7.73, a price-to-earnings-growth ratio of 1.41 and a beta of 1.44. The business has a 50 day moving average price of $37.06 and a two-hundred day moving average price of $36.67. 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 (NYSE:HOG) last issued 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. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Harley-Davidson had a return on equity of 20.33% and a net margin of 11.92%. Harley-Davidson’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $1.22 earnings per share. As a group, equities analysts forecast that Harley-Davidson will post 4.32 EPS for the current year.

Harley-Davidson announced that its Board of Directors has authorized a share buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Harley-Davidson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were given a $0.1725 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.69 annualized dividend and a yield of 1.98%. Harley-Davidson’s payout ratio is 15.33%.

Institutional Investors Weigh In On Harley-Davidson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HOG. Future Financial Wealth Managment LLC acquired a new stake in shares of Harley-Davidson in the first quarter valued at approximately $39,000. American National Bank acquired a new stake in shares of Harley-Davidson in the 1st quarter valued at $52,000. Neo Ivy Capital Management bought a new stake in shares of Harley-Davidson during the fourth quarter worth $50,000. Signaturefd LLC lifted its stake in shares of Harley-Davidson by 46.8% during the second 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 boosted its holdings in Harley-Davidson by 19.5% in the second quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after acquiring an additional 322 shares during the last quarter. Institutional investors and hedge funds own 85.10% of the company’s stock.

About Harley-Davidson

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.