Harley-Davidson (NYSE:HOG) Given New $35.00 Price Target at UBS Group

Harley-Davidson (NYSE:HOG) had its price target reduced by UBS Group from $40.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Bank of America dropped their price target on Harley-Davidson from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Robert W. Baird cut Harley-Davidson from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $44.00 to $40.00 in a report on Wednesday, October 2nd. Baird R W cut Harley-Davidson from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Citigroup dropped their price objective on Harley-Davidson from $39.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $42.57.

Harley-Davidson Stock Performance

NYSE:HOG traded down $0.30 during mid-day trading on Thursday, hitting $32.93. 1,268,054 shares of the stock were exchanged, compared to its average volume of 1,738,998. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 7.41, a price-to-earnings-growth ratio of 0.41 and a beta of 1.46. The firm’s 50-day simple moving average is $35.65 and its 200 day simple moving average is $35.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.25 and a current ratio of 1.41. Harley-Davidson has a fifty-two week low of $26.35 and a fifty-two week high of $44.16.

Harley-Davidson declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 25th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Harley-Davidson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, September 16th were paid a $0.1725 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.69 annualized dividend and a dividend yield of 2.10%. Harley-Davidson’s payout ratio is 15.54%.

Insider Activity

In related news, Director Maryrose Sylvester sold 4,278 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $32.25, for a total transaction of $137,965.50. Following the sale, the director now owns 17,687 shares in the company, valued at $570,405.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Harley-Davidson

A number of institutional investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in shares of Harley-Davidson in the 3rd quarter valued at about $35,000. Prospera Financial Services Inc bought a new stake in shares of Harley-Davidson in the 3rd quarter valued at about $327,000. Quest Partners LLC grew its position in shares of Harley-Davidson by 71,664.3% in the 3rd quarter. Quest Partners LLC now owns 10,047 shares of the company’s stock valued at $387,000 after buying an additional 10,033 shares during the last quarter. Natixis Advisors LLC grew its position in shares of Harley-Davidson by 13.8% in the 3rd quarter. Natixis Advisors LLC now owns 22,656 shares of the company’s stock valued at $873,000 after buying an additional 2,756 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Harley-Davidson by 21.8% in the 3rd quarter. Empowered Funds LLC now owns 14,828 shares of the company’s stock valued at $571,000 after buying an additional 2,657 shares during the last quarter. Institutional investors own 85.10% of the company’s stock.

About Harley-Davidson

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.