Harley-Davidson (HOG Quick QuoteHOG - Free Report) closed the most recent trading day at $35.75, moving +0.42% from the previous trading session. This move lagged the S&P 500's daily gain of 0.52%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq added 0.37%.

Coming into today, shares of the motorcycle maker had lost 8.39% in the past month. In that same time, the Auto-Tires-Trucks sector lost 18.23%, while the S&P 500 lost 6.51%.

Harley-Davidson will be looking to display strength as it nears its next earnings release, which is expected to be February 8, 2022. On that day, Harley-Davidson is projected to report earnings of -$0.41 per share, which would represent year-over-year growth of 34.92%. Our most recent consensus estimate is calling for quarterly revenue of $643.17 million, up 21.13% from the year-ago period.

It is also important to note the recent changes to analyst estimates for Harley-Davidson. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.75% higher within the past month. Harley-Davidson currently has a Zacks Rank of #2 (Buy).

Investors should also note Harley-Davidson's current valuation metrics, including its Forward P/E ratio of 10.64. This represents a discount compared to its industry's average Forward P/E of 11.18.

We can also see that HOG currently has a PEG ratio of 0.23. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Automotive - Domestic stocks are, on average, holding a PEG ratio of 0.89 based on yesterday's closing prices.

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.