BMO Capital Markets Cuts Harley-Davidson (NYSE:HOG) Price Target to $45.00

Harley-Davidson (NYSE:HOG) had its price objective decreased by BMO Capital Markets from $50.00 to $45.00 in a research note issued to investors on Friday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research firms have also issued reports on HOG. Morgan Stanley initiated coverage on shares of Harley-Davidson in a research report on Tuesday, April 23rd. They issued an overweight rating and a $50.00 price target on the stock. Bank of America raised their price target on shares of Harley-Davidson from $50.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, March 14th. DA Davidson raised their price target on shares of Harley-Davidson from $42.00 to $49.00 and gave the stock a buy rating in a research report on Thursday, April 11th. UBS Group raised their price target on shares of Harley-Davidson from $29.00 to $39.00 and gave the stock a neutral rating in a research report on Friday, February 16th. Finally, Citigroup raised their price target on shares of Harley-Davidson from $36.00 to $37.00 and gave the stock a neutral rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Harley-Davidson currently has a consensus rating of Moderate Buy and a consensus price target of $46.43.

Harley-Davidson Stock Performance

NYSE:HOG opened at $34.75 on Friday. Harley-Davidson has a 1 year low of $25.43 and a 1 year high of $44.16. The firm’s fifty day simple moving average is $39.81 and its 200 day simple moving average is $34.98. The company has a current ratio of 1.54, a quick ratio of 1.25 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $4.67 billion, a PE ratio of 7.72, a PEG ratio of 2.26 and a beta of 1.43.

Harley-Davidson (NYSE:HOG) last posted its earnings results on Thursday, April 25th. The company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.24. Harley-Davidson had a net margin of 11.03% and a return on equity of 19.48%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. On average, sell-side analysts anticipate that Harley-Davidson will post 4.29 EPS for the current year.

Harley-Davidson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Monday, March 4th were issued a dividend of $0.1725 per share. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Harley-Davidson’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 1st. Harley-Davidson’s dividend payout ratio (DPR) is presently 15.33%.

Hedge Funds Weigh In On Harley-Davidson

A number of hedge funds and other institutional investors have recently made changes to their positions in HOG. Louisiana State Employees Retirement System lifted its holdings in Harley-Davidson by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the company’s stock valued at $1,597,000 after purchasing an additional 900 shares during the last quarter. Amalgamated Bank lifted its holdings in Harley-Davidson by 7.1% during the 1st quarter. Amalgamated Bank now owns 86,571 shares of the company’s stock valued at $3,787,000 after purchasing an additional 5,741 shares during the last quarter. Raymond James & Associates lifted its holdings in Harley-Davidson by 5.8% during the 1st quarter. Raymond James & Associates now owns 588,911 shares of the company’s stock valued at $25,759,000 after purchasing an additional 32,073 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Harley-Davidson by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 31,161 shares of the company’s stock valued at $1,363,000 after purchasing an additional 800 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Harley-Davidson by 17.2% during the 1st quarter. Diversified Trust Co now owns 100,374 shares of the company’s stock valued at $4,390,000 after purchasing an additional 14,751 shares during the last quarter. 85.10% of the stock is owned by institutional investors.

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.