Harley-Davidson (NYSE:HOG) Cut to Equal Weight at Morgan Stanley

Harley-Davidson (NYSE:HOG) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have a $33.00 price objective on the stock, down from their previous price objective of $40.00. Morgan Stanley’s price target would suggest a potential upside of 13.50% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Robert W. Baird cut their target price on shares of Harley-Davidson from $40.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. Baird R W cut shares of Harley-Davidson from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. UBS Group decreased their target price on shares of Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded Harley-Davidson from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Finally, Bank of America decreased their price objective on Harley-Davidson from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.57.

Harley-Davidson Price Performance

NYSE:HOG opened at $29.08 on Tuesday. The company has a market capitalization of $3.70 billion, a P/E ratio of 6.55, a P/E/G ratio of 0.34 and a beta of 1.48. The business’s 50-day moving average is $31.45 and its 200 day moving average is $34.18. The company has a current ratio of 1.41, a quick ratio of 1.25 and a debt-to-equity ratio of 1.38. Harley-Davidson has a 12 month low of $27.37 and a 12 month high of $44.16.

Insider Activity

In other news, Director Maryrose Sylvester sold 4,278 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $32.25, for a total value of $137,965.50. Following the transaction, the director now directly owns 17,687 shares in the company, valued at approximately $570,405.75. This represents a 19.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Harley-Davidson

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in Harley-Davidson by 22,680.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,182,864 shares of the company’s stock valued at $161,166,000 after purchasing an additional 4,164,502 shares in the last quarter. Raymond James & Associates increased its stake in shares of Harley-Davidson by 5.0% during the third quarter. Raymond James & Associates now owns 647,000 shares of the company’s stock valued at $24,929,000 after buying an additional 30,725 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Harley-Davidson by 38.6% in the third quarter. JPMorgan Chase & Co. now owns 533,490 shares of the company’s stock valued at $20,555,000 after acquiring an additional 148,537 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Harley-Davidson by 14.1% in the second quarter. Bank of Montreal Can now owns 468,618 shares of the company’s stock valued at $15,731,000 after acquiring an additional 57,913 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in Harley-Davidson by 174.4% in the second quarter. Squarepoint Ops LLC now owns 419,775 shares of the company’s stock worth $14,079,000 after acquiring an additional 266,806 shares during the period. Institutional investors own 85.10% of the company’s stock.

Harley-Davidson Company Profile

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.