Key Points
- Harley-Davidson CFO Jonathan Root sold 1,559 shares for approximately $38,000 under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 5.93% to 24,733 shares.
- The company reported quarterly EPS of $0.75, beating estimates of $0.65, while revenue reached $1.23 billion. However, revenue declined 5.9% year over year.
- Analyst sentiment improved, with Citigroup and Loop Capital upgrading the stock to “Buy”; nevertheless, the overall consensus remains “Hold,” with a $28.20 price target.
Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) CFO Jonathan Root sold 1,559 shares of the firm's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $24.43, for a total transaction of $38,086.37. Following the completion of the sale, the chief financial officer owned 24,733 shares of the company's stock, valued at $604,227.19. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Harley-Davidson Price Performance
HOG stock opened at $26.14 on Tuesday. The stock has a market cap of $2.72 billion, a PE ratio of 16.04, a P/E/G ratio of 8.07 and a beta of 1.30. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $28.86. The company has a 50-day moving average price of $26.59 and a 200 day moving average price of $24.79. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36.
Harley-Davidson (NYSE:HOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.10. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The firm's revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. Equities research analysts anticipate that Harley-Davidson, Inc. will post 0.56 earnings per share for the current year.
Harley-Davidson Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, September 15th. Harley-Davidson's dividend payout ratio is presently 46.01%.
Analyst Ratings Changes
Several equities analysts have commented on the company. Citigroup raised Harley-Davidson from a "neutral" rating to a "buy" rating and upped their price objective for the company from $31.00 to $33.00 in a research report on Monday. UBS Group lifted their target price on Harley-Davidson from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. Wolfe Research reissued an "outperform" rating on shares of Harley-Davidson in a research note on Monday, June 15th. Griffin Securities set a $33.00 price target on shares of Harley-Davidson in a report on Monday, August 17th. Finally, Loop Capital raised shares of Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target on the stock in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.20.
Get Our Latest Research Report on Harley-Davidson
Harley-Davidson News Summary
Here are the key news stories impacting Harley-Davidson this week:
- Positive Sentiment: Citigroup upgraded HOG to Buy from Neutral and raised its price target to $33 from $31. The firm said improving retail sales and dealer sentiment could support a “multi-year retail growth story,” reversing some of Harley-Davidson’s recent struggles. Citigroup Upgrades Harley-Davidson to Buy From Neutral, Adjusts Price Target to $33 From $31
- Positive Sentiment: Citi identified the returning Sportster as a potential additional catalyst for retail demand. The upgrade suggests the bank sees improving product momentum and a better outlook for Harley-Davidson’s core motorcycle business. Harley-Davidson Stock Jumps as Citi Bets on a Turnaround
- Positive Sentiment: The bullish research triggered broader investor interest, with reports describing the upgrade as evidence that Harley-Davidson may be entering a brighter phase after several difficult years. The revised target implies further upside from recent trading levels. Harley-Davidson has struggled in recent years. Citi says buy the stock
- Neutral Sentiment: Harley-Davidson’s chief financial officer, Jonathan Root, sold 1,559 shares for approximately $38,000 under a pre-arranged Rule 10b5-1 trading plan. While insider selling can weigh on sentiment, the planned nature and relatively small size of the transaction reduce its significance for the investment thesis. Harley-Davidson CFO Form 4 Filing
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Aberdeen Wealth Management LLC bought a new stake in shares of Harley-Davidson in the second quarter valued at about $29,000. CX Institutional lifted its holdings in Harley-Davidson by 62.4% during the third quarter. CX Institutional now owns 1,445 shares of the company's stock worth $35,000 after buying an additional 555 shares during the period. Pinnacle Holdings LLC bought a new stake in Harley-Davidson during the 2nd quarter valued at $36,000. Versant Capital Management Inc increased its holdings in shares of Harley-Davidson by 858.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,629 shares of the company's stock valued at $40,000 after acquiring an additional 1,459 shares during the period. Finally, Johnson Financial Group Inc. purchased a new position in shares of Harley-Davidson in the 2nd quarter valued at $59,000. 85.10% of the stock is currently owned by hedge funds and other institutional investors.
Harley-Davidson Company Profile
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Get Free Report)
Harley-Davidson, Inc is a motorcycle manufacturer headquartered in Milwaukee, Wisconsin. Founded in 1903, the company designs, manufactures and sells heavyweight motorcycles known for their cruiser, touring and adventure-touring models, as well as related parts, accessories, apparel and merchandise.
The company markets its products under the Harley-Davidson brand through a network of independent dealers and company-operated retail locations. Its offerings serve customers in the United States and international markets across Europe, Asia-Pacific, Canada and other regions.
Harley-Davidson also provides motorcycle financing and insurance-related services through Harley-Davidson Financial Services.
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