Harley-Davidson Inc (HOG) is Downgraded by Goldman to Neutral, Lowers Price Target to $ 50

Harley-Davidson Inc (HOG) was Downgraded by Goldman to ” Neutral” while Lowering the Price Target of the company shares to $ 50 from a previous price target of $55 . Earlier the firm had a rating of “Buy ” on the company shares. Goldman advised their investors in a research report released on Jun 6, 2016.

Many Wall Street Analysts have commented on Harley-Davidson Inc. Shares were Downgraded by Goldman on Jun 6, 2016 to ” Neutral” and Lowered the Price Target to $ 50 from a previous price target of $55 .Shares were Reiterated by Wedbush on May 16, 2016 to “Neutral” and Lowered the Price Target to $ 40 from a previous price target of $42 .Shares were Reiterated by Wedbush on Apr 13, 2016 to “Neutral” and Lowered the Price Target to $ 42 from a previous price target of $46 .

On the company’s financial health, Harley-Davidson Inc reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 19, 2016. Analyst had a consensus of $1.30. The company had revenue of $1576.60 million for the quarter, compared to analysts expectations of $1499.25 million. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS.

Harley-Davidson Inc closed down -0.36 points or -0.78% at $45.79 with 16,85,710 shares getting traded on Friday. Post opening the session at $45.82, the shares hit an intraday low of $45.06 and an intraday high of $46.05 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 11, 2016, Michelle Kumbier (SVP, Motor Co. Product & Ops) sold 26,667 shares at $46.25 per share price. According to the SEC, on Apr 26, 2016, Tonit M Calaway (VP, Human Resources) sold 2,227 shares at $48.97 per share price. On Feb 3, 2016, Lawrence G Hund (President-HDFS) sold 1,554 shares at $40.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Harley-Davidson Inc. is the parent company for the groups of companies doing business as Harley-Davidson Motor Company (HDMC) and Harley-Davidson Financial Services (HDFS). The Company operates in two segments: the Motorcycles & Related Products (Motorcycles) segment and the Financial Services segment. The Motorcycles segment consists of HDMC which designs manufactures and sells street-legal Harley-Davidson motorcycles as well as a line of motorcycle parts accessories general merchandise and related services. The Company’s products are sold to retail customers through a network of independent dealers. The Financial Services segment consists of HDFS which provides wholesale and retail financing and insurance and insurance-related programs to Harley-Davidson dealers and their retail customers. The Company conducts its business around the world including in North America Europe the Middle East and Africa (EMEA); Asia-Pacific and Latin America.

Harley-Davidson Inc

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