DA Davidson upgrades Harley-Davidson Inc. (HOG) rating to a Buy


Harley-Davidson Inc.’s recent filing unveils that its Director Masood Rafeh acquired Company’s shares for reported $49997.0 on Aug 01. In the deal valued at $38.40 per share,1,302 shares were bought. As a result of this transaction, Masood Rafeh now holds 2,637 shares worth roughly $ 86519.97.

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Then, Root Jonathan R sold 2,239 shares, generating $112,324 in total proceeds. Upon selling the shares at $50.17, the SVP – HDFSI now owns 5,474 shares.

DA Davidson upgraded its Harley-Davidson Inc. [HOG] rating to a Buy from a a Neutral in a research note published on Monday, July 21, 2023; the price target was increased to $47 from $38. PT values the company’s stock at a premium of 30.19 to its Monday closing price.

Price Performance Review of HOG

On Monday, Harley-Davidson Inc. [NYSE:HOG] saw its stock fall -1.65% to $32.81. On the same session, the stock had its day’s lowest price of $32.70, but rose to a high of $33.239. Over the last five days, the stock has gained 0.77%. Harley-Davidson Inc. shares have fallen nearly -21.13% since the year began. Nevertheless, the stocks have fallen -20.17% over the past one year. While a 52-week high of $51.77 was reached on 02/02/23, a 52-week low of $30.85 was recorded on 05/31/23. SMA at 50 days reached $35.10, while 200 days put it at $38.80. A total of 1.4 million shares were traded, compared to the trading of 3.08 million shares in the previous session.

Levels Of Support And Resistance For HOG Stock

The 24-hour chart illustrates a support level at 32.59, which if violated will result in even more drops to 32.38. On the upside, there is a resistance level at 33.13. A further resistance level may holdings at 33.46. The Relative Strength Index (RSI) on the 14-day chart is 42.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.28%. Stochastics %K at 51.60% indicates the stock is a holding.

How much short interest is there in Harley-Davidson Inc.?

A steep rise in short interest was recorded in Harley-Davidson Inc. stocks on Aug 30, 2023, dropping by -0.58 million shares to a total of 4.41 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 4.99 million shares. There was a decline of -13.15%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.45% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.97.

Harley-Davidson Inc. [HOG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 13,213,708 shares, or roughly 9.33% of the outstanding HOG shares. In other words, the investor’s shares have risen by 20,677 from its previous 13-F filing of 13193031.0. Additionally, H Partners Management LLC decreased -3.67% of its stake after which the total value it holdings stand at $398,250,000, while BlackRock Fund Advisors reduced -3.40% of its stake to hold $349.07 million in the firm. Over the last quarter, Beutel, Goodman & Co. Ltd. purchased 166,961 shares of Harley-Davidson Inc., while Boston Partners Global Investors, bought -1,721,623 shares. At present, Fidelity Management & Research Co is holding 6,473,703 shares valued at $218.49 million. Jupiter Asset Management Ltd. owned 5,332,909 shares of the company at the time of its most recent 13F filing, worth $179.99 million.

According to FactSet, Harley-Davidson Inc.’s share price will average $46.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 45.38 percent from its previous closing price of $33.36. Analysts expect Harley-Davidson Inc. stock to reach the higher price of $55.00, while the lowest price estimate is $35.00. However, 16 analysts have rated HOG stock as an Overweight in their predictions for 2023.


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