Harley-Davidson Inc (HOG) is Downgraded by Wells Fargo to Market Perform

Harley-Davidson Inc (HOG) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jul 29, 2016.

Many Wall Street Analysts have commented on Harley-Davidson Inc. Harley-Davidson Inc was Downgraded by Stifel to ” Hold” on Jul 15, 2016. UBS Downgraded Harley-Davidson Inc on Jul 6, 2016 to ” Neutral”, Price Target of the shares are set at $57.Robert W. Baird Downgraded Harley-Davidson Inc on Jul 5, 2016 to ” Neutral”, Price Target of the shares are set at $54.

On the company’s financial health, Harley-Davidson Inc reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.53. The company had revenue of $1670.00 million for the quarter, compared to analysts expectations of $1662.99 million. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS.

Harley-Davidson Inc opened for trading at $48.49 and hit $51.43 on the upside on Thursday, eventually ending the session at $51.01, with a gain of 0.85% or 0.43 points. The heightened volatility saw the trading volume jump to 50,54,578 shares. Company has a market cap of $9,237 M.

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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