Harley-Davidson (NYSE:HOG) Stock Price Up 5.9% – Here’s What Happened

Harley-Davidson, Inc. (NYSE:HOG)’s stock price shot up 5.9% during mid-day trading on Thursday . The company traded as high as $19.68 and last traded at $19.5530. 1,294,614 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 3,579,494 shares. The stock had previously closed at $18.47.

Analysts Set New Price Targets

Several research firms recently issued reports on HOG. UBS Group cut their price target on shares of Harley-Davidson from $27.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Citigroup dropped their target price on shares of Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Morgan Stanley reaffirmed an “underweight” rating and set a $12.00 price target on shares of Harley-Davidson in a research report on Tuesday, February 17th. Finally, Robert W. Baird set a $22.00 price target on Harley-Davidson in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $21.67.

Harley-Davidson Stock Performance

The company has a 50-day moving average of $19.39 and a 200-day moving average of $23.06. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 7.43 and a beta of 1.42. The company has a current ratio of 2.10, a quick ratio of 1.83 and a debt-to-equity ratio of 0.52.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings data on Tuesday, February 10th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.92) by ($1.52). Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The business had revenue of $496.16 million during the quarter, compared to analyst estimates of $482.21 million. During the same period in the prior year, the firm earned ($0.93) EPS. The business’s revenue for the quarter was down 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Harley-Davidson, Inc. will post 3.44 earnings per share for the current fiscal year.

Harley-Davidson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd were issued a $0.1875 dividend. This is a boost from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.75 annualized dividend and a dividend yield of 3.9%. Harley-Davidson’s dividend payout ratio (DPR) is presently 28.74%.

Insider Transactions at Harley-Davidson

In other Harley-Davidson news, Director Rafeh Masood bought 2,775 shares of the business’s stock in a transaction on Friday, February 27th. The shares were purchased at an average price of $18.00 per share, with a total value of $49,950.00. Following the completion of the acquisition, the director directly owned 7,480 shares of the company’s stock, valued at approximately $134,640. The trade was a 58.98% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James D. Farley, Jr. sold 6,454 shares of Harley-Davidson stock in a transaction that occurred on Wednesday, February 25th. The shares were 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. The trade was a 28.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of Harley-Davidson

Several hedge funds have recently made changes to their positions in HOG. Donald Smith & CO. Inc. boosted its position in Harley-Davidson by 61.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 5,517,795 shares of the company’s stock valued at $130,220,000 after purchasing an additional 2,108,099 shares during the period. Norges Bank acquired a new stake in Harley-Davidson in the fourth quarter worth $25,766,000. SG Americas Securities LLC increased its position in Harley-Davidson by 1,277.0% in the fourth quarter. SG Americas Securities LLC now owns 1,094,119 shares of the company’s stock worth $22,418,000 after buying an additional 1,014,660 shares during the period. Vanguard Group Inc. lifted its stake in Harley-Davidson by 7.3% in the third quarter. Vanguard Group Inc. now owns 12,958,561 shares of the company’s stock valued at $361,544,000 after buying an additional 886,998 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Harley-Davidson in the third quarter valued at $21,761,000. Institutional investors 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.