Harman International Industries /DE/ (HAR) is Initiated by Northcoast to Buy

Harman International Industries /DE/ (HAR) was Initiated by Northcoast to “Buy”. Northcoast advised their investors in a research report released on Jun 14, 2016.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Piper Jaffray Initiated Harman International Industries /DE/ on Jun 10, 2016 to “Neutral”, Price Target of the shares are set at $84.Shares were Reiterated by RBC Capital Mkts on Apr 29, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $90 .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/ closed down -2.74 points or -3.45% at $76.71 with 6,97,999 shares getting traded on Friday. Post opening the session at $77.83, the shares hit an intraday low of $76.17 and an intraday high of $77.98 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 10, 2016, Ralph Santana (Chief Marketing Officer) sold 3,650 shares at $72.17 per share price. According to the SEC, on Mar 14, 2016, John Stacey (EVP and Chief HR Officer) sold 8,000 shares at $81.33 per share price. On Feb 3, 2016, Michael Mauser (EVP, Pres. Lifestyle Audio) sold 11,254 shares at $73.08 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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