Harley-Davidson (HOG) Shares Down 5.8%

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Harley-Davidson Inc (NYSE:HOG)’s share price fell 5.8% during trading on Thursday . The company traded as low as $39.31 and last traded at $39.45. 3,632,523 shares traded hands during mid-day trading, an increase of 48% from the average session volume of 2,461,378 shares. The stock had previously closed at $41.86.

A number of brokerages recently commented on HOG. Wolfe Research began coverage on shares of Harley-Davidson in a research note on Tuesday, October 2nd. They issued a “peer perform” rating and a $46.00 price objective for the company. ValuEngine raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research note on Saturday, September 22nd. Wedbush reduced their price objective on shares of Harley-Davidson from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 4th. Zacks Investment Research downgraded shares of Harley-Davidson from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Finally, Royal Bank of Canada reduced their price objective on shares of Harley-Davidson from $45.00 to $43.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 17th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $44.38.

The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.95 and a current ratio of 1.08. The firm has a market capitalization of $6.42 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.09.

Harley-Davidson (NYSE:HOG) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.25. Harley-Davidson had a net margin of 9.30% and a return on equity of 33.57%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts predict that Harley-Davidson Inc will post 3.88 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.87%. The ex-dividend date is Thursday, December 13th. Harley-Davidson’s dividend payout ratio is currently 42.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. purchased a new position in Harley-Davidson in the second quarter worth $132,000. Comerica Securities Inc. purchased a new stake in shares of Harley-Davidson during the third quarter valued at $202,000. Sun Life Financial INC grew its holdings in shares of Harley-Davidson by 2,059.1% during the second quarter. Sun Life Financial INC now owns 4,858 shares of the company’s stock valued at $204,000 after buying an additional 4,633 shares during the last quarter. IFG Advisory LLC purchased a new stake in shares of Harley-Davidson during the third quarter valued at $206,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in shares of Harley-Davidson during the third quarter valued at $208,000. 88.35% of the stock is currently owned by institutional investors and hedge funds.

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About Harley-Davidson (NYSE:HOG)

Harley-Davidson, Inc primarily manufactures and sells cruiser and touring motorcycles. The company operates in two segments, Motorcycles & Related Products, and Financial Services. The Motorcycles & Related Products segment designs, manufactures, and sells at wholesale on-road Harley-Davidson motorcycles, as well as motorcycle parts, accessories, general merchandise, and related services.

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