Harley-Davidson (NYSE:HOG) Sees Strong Trading Volume on Better-Than-Expected Earnings

Harley-Davidson, Inc. (NYSE:HOG) saw unusually-strong trading volume on Thursday after the company announced better than expected quarterly earnings. Approximately 3,039,032 shares were traded during mid-day trading, an increase of 81% from the previous session’s volume of 1,679,107 shares.The stock last traded at $34.82 and had previously closed at $39.44.

The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.24. Harley-Davidson had a return on equity of 19.48% and a net margin of 11.03%. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.42 billion.

Harley-Davidson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Monday, March 4th were issued a $0.1725 dividend. This represents a $0.69 annualized dividend and a yield of 1.99%. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 1st. Harley-Davidson’s payout ratio is presently 15.33%.

Analyst Ratings Changes

HOG has been the topic of several analyst reports. Bank of America lifted their price target on shares of Harley-Davidson from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Morgan Stanley began coverage on Harley-Davidson in a research report on Tuesday. They issued an “overweight” rating and a $50.00 target price on the stock. DA Davidson raised their price objective on Harley-Davidson from $42.00 to $49.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. UBS Group upped their target price on shares of Harley-Davidson from $29.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, BMO Capital Markets dropped their price target on shares of Harley-Davidson from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.43.

Institutional Trading of Harley-Davidson

Several hedge funds have recently made changes to their positions in HOG. Charles Schwab Investment Management Inc. increased its stake in Harley-Davidson by 47.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,057 shares of the company’s stock worth $41,955,000 after buying an additional 410,648 shares during the period. Alps Advisors Inc. increased its position in shares of Harley-Davidson by 29.7% during the third quarter. Alps Advisors Inc. now owns 10,365 shares of the company’s stock worth $343,000 after acquiring an additional 2,375 shares during the period. Diversified Trust Co acquired a new stake in shares of Harley-Davidson in the fourth quarter valued at $3,154,000. Pathstone Family Office LLC purchased a new position in Harley-Davidson in the third quarter valued at $565,000. Finally, Landscape Capital Management L.L.C. acquired a new position in Harley-Davidson during the 3rd quarter worth $641,000. Institutional investors and hedge funds own 85.10% of the company’s stock.

Harley-Davidson Trading Up 4.6 %

The company has a current ratio of 1.54, a quick ratio of 1.25 and a debt-to-equity ratio of 1.50. The company has a market cap of $4.67 billion, a PE ratio of 7.72, a P/E/G ratio of 2.16 and a beta of 1.43. The company has a fifty day simple moving average of $39.81 and a two-hundred day simple moving average of $34.93.

Harley-Davidson Company Profile

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.