Harley-Davidson (NYSE:HOG) Given New $39.00 Price Target at Citigroup

Harley-Davidson (NYSE:HOG) had its price target increased by Citigroup from $37.00 to $39.00 in a research report report published on Thursday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on the company. Robert W. Baird lifted their target price on Harley-Davidson from $40.00 to $44.00 and gave the company an outperform rating in a report on Friday, July 26th. UBS Group lifted their price objective on Harley-Davidson from $39.00 to $40.00 and gave the company a neutral rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Harley-Davidson presently has an average rating of Moderate Buy and an average target price of $46.00.

Harley-Davidson Trading Down 2.4 %

Shares of HOG stock opened at $38.58 on Thursday. The firm has a market cap of $5.19 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. Harley-Davidson has a 1-year low of $25.43 and a 1-year high of $44.16. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.50 and a quick ratio of 1.32. The company has a 50-day moving average of $36.65 and a two-hundred day moving average of $36.78.

Harley-Davidson (NYSE:HOG) last announced its earnings results on Thursday, July 25th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.23. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm earned $1.22 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, analysts predict that Harley-Davidson will post 4.32 EPS for the current year.

Harley-Davidson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, September 16th will be issued a $0.1725 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.79%. Harley-Davidson’s payout ratio is currently 15.33%.

Harley-Davidson announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Harley-Davidson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in Harley-Davidson by 19.0% during the second quarter. GAMMA Investing LLC now owns 2,008 shares of the company’s stock worth $67,000 after purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp lifted its position in Harley-Davidson by 19.5% in the second quarter. Fifth Third Bancorp now owns 1,970 shares of the company’s stock valued at $66,000 after acquiring an additional 322 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of Harley-Davidson by 0.7% during the first quarter. Toronto Dominion Bank now owns 51,975 shares of the company’s stock worth $2,273,000 after purchasing an additional 345 shares during the last quarter. US Bancorp DE increased its position in shares of Harley-Davidson by 2.2% during the fourth quarter. US Bancorp DE now owns 16,023 shares of the company’s stock worth $590,000 after purchasing an additional 346 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Harley-Davidson by 95.0% in the 4th quarter. Quadrant Capital Group LLC now owns 788 shares of the company’s stock valued at $29,000 after purchasing an additional 384 shares during the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

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.