Harley-Davidson (NYSE:HOG) Trading Down 5.7% – Here’s Why

Harley-Davidson, Inc. (NYSE:HOG)’s stock price traded down 5.7% during trading on Thursday . The company traded as low as $22.41 and last traded at $22.4950. 802,824 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 3,447,821 shares. The stock had previously closed at $23.85.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 14th. Zacks Research raised shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. UBS Group boosted their price objective on shares of Harley-Davidson from $19.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Finally, Wells Fargo & Company upped their price target on Harley-Davidson from $15.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson currently has an average rating of “Hold” and an average target price of $24.22.

Harley-Davidson Stock Performance

The business has a 50-day moving average price of $21.78 and a 200-day moving average price of $21.65. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 8.73 and a beta of 1.27. The company has a quick ratio of 1.66, a current ratio of 1.91 and a debt-to-equity ratio of 0.37.

Harley-Davidson (NYSE:HOG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.01 billion. Harley-Davidson had a return on equity of 7.03% and a net margin of 5.68%.The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. As a group, sell-side analysts forecast that Harley-Davidson, Inc. will post 0.63 earnings per share for the current year.

Insider Transactions at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the company’s stock in a transaction dated 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 transaction, the director owned 16,205 shares of the company’s stock, valued at approximately $303,195.55. This represents a 28.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rafeh Masood purchased 2,775 shares of Harley-Davidson stock in a transaction that occurred on Friday, February 27th. The stock was acquired at an average cost of $18.00 per share, with a total value of $49,950.00. Following the acquisition, the director directly owned 7,480 shares in the company, valued at $134,640. This trade represents a 58.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of Harley-Davidson

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Harley-Davidson by 62.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,436 shares of the company’s stock worth $2,183,000 after buying an additional 33,097 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Harley-Davidson by 18.3% during the 1st quarter. Empowered Funds LLC now owns 17,560 shares of the company’s stock worth $443,000 after purchasing an additional 2,712 shares during the period. Geneos Wealth Management Inc. boosted its position in Harley-Davidson by 153.8% in the 1st 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 period. Federated Hermes Inc. boosted its position in Harley-Davidson by 32.8% in the 2nd quarter. Federated Hermes Inc. now owns 16,076 shares of the company’s stock valued at $379,000 after buying an additional 3,967 shares during the period. Finally, California Public Employees Retirement System boosted its position in Harley-Davidson by 12.0% in the 2nd quarter. California Public Employees Retirement System now owns 204,156 shares of the company’s stock valued at $4,818,000 after buying an additional 21,913 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.

About Harley-Davidson

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.