Citigroup Cuts Harley-Davidson (NYSE:HOG) Price Target to $29.00

Harley-Davidson (NYSE:HOG) had its target price reduced by equities researchers at Citigroup from $31.00 to $29.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 8.13% from the stock’s current price.

A number of other analysts have also issued reports on HOG. Morgan Stanley cut their target price on Harley-Davidson from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America cut their price objective on Harley-Davidson from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. UBS Group lowered their target price on Harley-Davidson from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. DA Davidson cut their price target on shares of Harley-Davidson from $39.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Harley-Davidson from a “sell” rating to a “hold” rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Harley-Davidson has an average rating of “Hold” and an average price target of $34.57.

Harley-Davidson Stock Performance

Shares of Harley-Davidson stock opened at $26.82 on Thursday. The firm has a market cap of $3.41 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 0.33 and a beta of 1.46. The company has a quick ratio of 1.25, a current ratio of 1.41 and a debt-to-equity ratio of 1.38. Harley-Davidson has a 52 week low of $25.25 and a 52 week high of $44.16. The business’s fifty day simple moving average is $29.90 and its 200-day simple moving average is $33.54.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Wednesday, February 5th. The company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.28). Harley-Davidson had a net margin of 11.31% and a return on equity of 17.79%. During the same quarter last year, the firm posted $0.18 earnings per share. Equities analysts forecast that Harley-Davidson will post 3.62 earnings per share for the current year.

Hedge Funds Weigh In On Harley-Davidson

Several institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in shares of Harley-Davidson by 172.0% in the fourth quarter. Venturi Wealth Management LLC now owns 876 shares of the company’s stock valued at $26,000 after purchasing an additional 554 shares during the period. Prospera Private Wealth LLC purchased a new position in Harley-Davidson during the third quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in Harley-Davidson in the third quarter valued at about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Harley-Davidson in the 4th quarter valued at approximately $42,000. Finally, Global Retirement Partners LLC increased its position in Harley-Davidson by 84.3% during the 4th quarter. Global Retirement Partners LLC now owns 1,850 shares of the company’s stock worth $56,000 after purchasing an additional 846 shares during the period. Institutional investors and hedge funds 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.