Harley-Davidson (NYSE:HOG) Sets New 1-Year Low – Here’s What Happened

Harley-Davidson, Inc. (NYSE:HOG)’s share price hit a new 52-week low on Monday . The stock traded as low as $17.11 and last traded at $17.4670, with a volume of 420867 shares changing hands. The stock had previously closed at $18.00.

Wall Street Analyst Weigh In

Several research firms recently commented on HOG. Robert W. Baird set a $22.00 price target on Harley-Davidson in a research note on Wednesday, February 11th. Weiss Ratings downgraded Harley-Davidson from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Zacks Research cut Harley-Davidson from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. BMO Capital Markets reissued an “outperform” rating and set a $24.00 price target on shares of Harley-Davidson in a research report on Wednesday, February 11th. Finally, Citigroup dropped their price target on shares of Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Harley-Davidson currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Harley-Davidson Stock Performance

The company has a 50-day moving average of $20.23 and a 200-day moving average of $24.21. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 7.08 and a beta of 1.42. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.52.

Harley-Davidson (NYSE:HOG) last released its earnings results on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($1.52). Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The business had revenue of $496.16 million for the quarter, compared to the consensus estimate of $482.21 million. During the same quarter in the previous year, the firm earned ($0.93) EPS. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, equities research analysts forecast that Harley-Davidson, Inc. will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.1%. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Monday, March 2nd. Harley-Davidson’s dividend payout ratio is currently 28.74%.

Insider Buying and Selling

In related news, Director Rafeh Masood acquired 2,775 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $49,950.00. Following the purchase, the director directly owned 7,480 shares in the company, valued at $134,640. This represents a 58.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James D. Farley, Jr. sold 6,454 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the completion of the sale, the director directly owned 16,205 shares in the company, valued at $303,195.55. This represents a 28.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Harley-Davidson

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Harley-Davidson by 139.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock valued at $26,000 after purchasing an additional 549 shares during the last quarter. Pinnacle Holdings LLC bought a new position in Harley-Davidson in the 4th quarter worth about $30,000. Fifth Third Bancorp increased its stake in shares of Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after purchasing an additional 579 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Harley-Davidson by 153.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock valued at $53,000 after buying an additional 1,278 shares during the last quarter. Finally, Westfuller Advisors LLC acquired a new position in shares of Harley-Davidson during the third quarter worth approximately $67,000. Institutional investors own 85.10% of the company’s stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.