Harman International Industries /DE/ (HAR) is Reiterated by RBC Capital Mkts to Outperform, Lowers Price Target to $ 85

Harman International Industries /DE/ (HAR) was Reiterated by RBC Capital Mkts to “Outperform” while Lowering the Price Target of the company shares to $ 85 from a previous price target of $90 . RBC Capital Mkts advised their investors in a research report released on Apr 29, 2016.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Goldman Initiated Harman International Industries /DE/ on Mar 31, 2016 to “Buy”, Price Target of the shares are set at $110.

On the company’s financial health, Harman International Industries /DE/ reported $1.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.42. The company had revenue of $1628.00 million for the quarter, compared to analysts expectations of $1680.86 million. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 EPS.

Harman International Industries /DE/ opened for trading at $88.1 and hit $89.215 on the upside on Wednesday, eventually ending the session at $88.9, with a gain of 0.94% or 0.83 points. The heightened volatility saw the trading volume jump to 10,40,706 shares. Company has a market cap of $6,325 M.

In a different news, on Mar 14, 2016, John Stacey (EVP and Chief HR Officer) sold 8,000 shares at $81.33 per share price. According to the SEC, on Feb 3, 2016, Michael Mauser (EVP, Pres. Lifestyle Audio) sold 11,254 shares at $73.08 per share price. On Feb 3, 2016, David Slump (EVP, Operations) sold 3,974 shares at $71.43 per share price, according to the Form-4 filing with the securities and exchange commission.

Harman International Industries Incorporated is engaged in the designing and engineering of connected products and solutions for automakers consumers and enterprises including audio systems visual products enterprise automation solutions and connected services. The Company operates through four segments. The Infotainment segment offers infotainment systems for vehicle applications. The Lifestyle segment offers car audio systems for vehicle applications as well as a range of loudspeaker and electronics for home multimedia and mobile applications. The Professional segment provides audio lighting video and control and automation solutions for commercial enterprise and public space applications. The Services segment creates software solutions that integrate design mobility cloud and analytics. Its brands include AKG AMX Crown Harman/Kardon Infinity JBL JBL Professional Lexicon Mark Levinson Martin Revel Soundcraft and Studer.

Harman International Industries /DE/

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