Harley-Davidson (NYSE:HOG) Price Target Raised to $39.00 at Citigroup

Harley-Davidson (NYSE:HOG - Free Report) had its price target upped by Citigroup from $37.00 to $39.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

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

Harley-Davidson Trading Up 3.0 %

Shares of NYSE HOG traded up $1.16 during trading on Thursday, hitting $39.52. 1,978,166 shares of the company were exchanged, compared to its average volume of 1,697,071. The company has a fifty day moving average price of $36.46 and a 200-day moving average price of $36.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a market capitalization of $5.32 billion, a PE ratio of 8.76, a P/E/G ratio of 1.28 and a beta of 1.44. Harley-Davidson has a 12-month low of $25.43 and a 12-month high of $44.16.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.40 by $0.23. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.29 billion. Harley-Davidson had a net margin of 11.92% and a return on equity of 20.33%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. As a group, equities research analysts expect that Harley-Davidson will post 4.32 EPS for the current year.

Harley-Davidson announced that its board has initiated a share buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Harley-Davidson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, September 16th will be issued a $0.1725 dividend. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, September 16th. Harley-Davidson's dividend payout ratio (DPR) is currently 15.33%.

Hedge Funds Weigh In On Harley-Davidson

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC raised its stake in shares of Harley-Davidson by 95.0% in the fourth quarter. Quadrant Capital Group LLC now owns 788 shares of the company's stock valued at $29,000 after acquiring an additional 384 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Harley-Davidson during the fourth quarter worth about $38,000. Future Financial Wealth Managment LLC acquired a new position in shares of Harley-Davidson during the first quarter worth about $39,000. Neo Ivy Capital Management purchased a new stake in shares of Harley-Davidson during the fourth quarter worth approximately $50,000. Finally, American National Bank acquired a new stake in Harley-Davidson in the first quarter valued at approximately $52,000. Hedge funds and other 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.