DA Davidson Forecasts Strong Price Appreciation for Harley-Davidson (NYSE:HOG) Stock

Harley-Davidson (NYSE:HOG) had its price target raised by analysts at DA Davidson from $25.00 to $30.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price target would suggest a potential upside of 21.33% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research raised shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Griffin Securities set a $30.00 price objective on shares of Harley-Davidson in a research note on Monday. Weiss Ratings raised shares of Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. UBS Group increased their target price on shares of Harley-Davidson from $19.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Wolfe Research restated an “outperform” rating on shares of Harley-Davidson in a report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.33.

Harley-Davidson Price Performance

NYSE HOG traded down $0.23 on Monday, reaching $24.73. 325,740 shares of the stock traded hands, compared to its average volume of 3,300,795. Harley-Davidson has a 12 month low of $17.09 and a 12 month high of $31.25. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 15.15 and a beta of 1.26. The firm’s fifty day simple moving average is $24.62 and its 200 day simple moving average is $21.81. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). Harley-Davidson had a net margin of 5.68% and a return on equity of 7.03%. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company earned $1.07 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. As a group, research analysts predict that Harley-Davidson will post 0.39 EPS for the current fiscal year.

Insider Transactions at Harley-Davidson

In related news, insider Paul J. Krause sold 1,564 shares of Harley-Davidson stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.00, for a total value of $40,664.00. Following the transaction, the insider owned 30,012 shares of the company’s stock, valued at approximately $780,312. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jonathan R. Root sold 1,554 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $24.21, for a total value of $37,622.34. Following the sale, the chief financial officer owned 32,508 shares in the company, valued at approximately $787,018.68. The trade was a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.97% of the company’s stock.

Institutional Investors Weigh In On Harley-Davidson

Several hedge funds have recently made changes to their positions in the company. Pinnacle Holdings LLC acquired a new position in Harley-Davidson in the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its holdings in shares of Harley-Davidson by 858.2% in the second quarter. Versant Capital Management Inc now owns 1,629 shares of the company’s stock valued at $40,000 after purchasing an additional 1,459 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Harley-Davidson by 153.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock worth $53,000 after buying an additional 1,278 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of Harley-Davidson by 1,758.9% during the first quarter. Bessemer Group Inc. now owns 2,937 shares of the company’s stock valued at $59,000 after buying an additional 2,779 shares in the last quarter. Hedge funds and other institutional investors 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.