Morgan Stanley Lowers Harley-Davidson (NYSE:HOG) Price Target to $42.00

Harley-Davidson (NYSE:HOG) had its target price trimmed by Morgan Stanley from $46.00 to $42.00 in a research note published on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on HOG. Goldman Sachs Group restated a sell rating and set a $34.00 price objective (down previously from $37.00) on shares of Harley-Davidson in a report on Wednesday, April 24th. DA Davidson restated a sell rating on shares of Harley-Davidson in a report on Friday, July 26th. Wedbush set a $35.00 price objective on shares of Harley-Davidson and gave the stock a hold rating in a report on Friday, July 12th. Wells Fargo & Co restated a market perform rating and set a $41.00 price objective (down previously from $49.00) on shares of Harley-Davidson in a report on Monday, April 8th. Finally, KeyCorp restated a hold rating on shares of Harley-Davidson in a report on Friday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $41.00.

HOG opened at $35.01 on Tuesday. The company has a debt-to-equity ratio of 2.43, a quick ratio of 1.03 and a current ratio of 1.15. The business’s fifty day simple moving average is $35.66. Harley-Davidson has a 1-year low of $31.36 and a 1-year high of $46.22. The firm has a market capitalization of $5.69 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 1.25 and a beta of 1.18.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.04. Harley-Davidson had a net margin of 7.99% and a return on equity of 28.67%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. On average, analysts forecast that Harley-Davidson will post 3.52 earnings per share for the current year.

In related news, VP Paul J. Jones sold 11,884 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $35.15, for a total transaction of $417,722.60. Following the completion of the transaction, the vice president now owns 9,575 shares in the company, valued at $336,561.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jochen Zeitz sold 2,227 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $33.05, for a total transaction of $73,602.35. Following the transaction, the director now owns 1 shares of the company’s stock, valued at approximately $33.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,737 shares of company stock valued at $1,699,899. 0.86% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. CHICAGO TRUST Co NA grew its position in Harley-Davidson by 30.0% during the first quarter. CHICAGO TRUST Co NA now owns 57,060 shares of the company’s stock valued at $2,034,000 after buying an additional 13,172 shares during the period. Morningstar Investment Services LLC bought a new position in Harley-Davidson during the first quarter valued at about $6,625,000. Parametric Portfolio Associates LLC grew its position in Harley-Davidson by 1.4% during the first quarter. Parametric Portfolio Associates LLC now owns 380,259 shares of the company’s stock valued at $13,560,000 after buying an additional 5,098 shares during the period. Norges Bank bought a new position in Harley-Davidson during the fourth quarter valued at about $54,193,000. Finally, Nordea Investment Management AB grew its position in Harley-Davidson by 36.2% during the fourth quarter. Nordea Investment Management AB now owns 10,589 shares of the company’s stock valued at $362,000 after buying an additional 2,812 shares during the period. Institutional investors own 91.49% of the company’s stock.

Harley-Davidson Company Profile

Harley-Davidson, Inc manufactures and sells custom, cruiser, and touring motorcycles. The company operates in two segments, Motorcycles and Related Products and Financial Services. The Motorcycles and Related Products segment designs, manufactures, and sells on-road Harley-Davidson motorcycles, including cruiser, touring, standard, sportbike, and dual models, as well as motorcycle parts, accessories, general merchandise, and related services.

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Analyst Recommendations for Harley-Davidson (NYSE:HOG)

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