Citigroup Cuts Harley-Davidson (NYSE:HOG) Price Target to $23.00

Harley-Davidson (NYSE:HOG) had its target price lowered by research analysts at Citigroup from $28.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 9.29% from the company’s current price.

HOG has been the topic of a number of other research reports. UBS Group cut their price target on shares of Harley-Davidson from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, November 13th. Loop Capital initiated coverage on shares of Harley-Davidson in a research note on Tuesday, November 25th. They issued a “hold” rating and a $21.00 target price on the stock. Zacks Research raised shares of Harley-Davidson from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Weiss Ratings raised Harley-Davidson from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley decreased their price objective on shares of Harley-Davidson from $25.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Harley-Davidson presently has an average rating of “Hold” and an average target price of $27.38.

Harley-Davidson Price Performance

Shares of HOG stock traded down $0.06 during trading hours on Wednesday, hitting $21.05. 2,550,125 shares of the company’s stock were exchanged, compared to its average volume of 2,752,196. The stock’s 50-day moving average is $22.62 and its 200-day moving average is $25.37. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 0.52 and a beta of 1.37. Harley-Davidson has a 52 week low of $20.38 and a 52 week high of $31.25. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.51 and a quick ratio of 2.36.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Tuesday, November 4th. The company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $1.72. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Harley-Davidson had a return on equity of 15.19% and a net margin of 11.37%. As a group, research analysts forecast that Harley-Davidson will post 3.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in Harley-Davidson by 1,277.0% during the 4th quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock valued at $22,418,000 after acquiring an additional 1,014,660 shares during the last quarter. Diversified Trust Co. boosted its position in Harley-Davidson by 2.1% during the 4th quarter. Diversified Trust Co. now owns 114,265 shares of the company’s stock worth $2,341,000 after acquiring an additional 2,360 shares during the period. JPMorgan Chase & Co. raised its position in Harley-Davidson by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 438,568 shares of the company’s stock valued at $12,236,000 after acquiring an additional 88,100 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Harley-Davidson by 13.7% during the 3rd quarter. Allworth Financial LP now owns 4,314 shares of the company’s stock worth $120,000 after buying an additional 519 shares during the period. Finally, Centaurus Financial Inc. acquired a new position in shares of Harley-Davidson during the third quarter valued at about $168,000. Institutional investors and hedge funds 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.