Harman International Industries /DE/ (HAR) is Downgraded by Robert W. Baird to Neutral, Price Target at $87

Harman International Industries /DE/ (HAR) was Downgraded by Robert W. Baird to ” Neutral” and the brokerage firm has set the Price Target at $87. Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 5, 2016.

Many Wall Street Analysts have commented on Harman International Industries /DE/. Harman International Industries /DE/ was Downgraded by Pacific Crest to ” Sector Weight” on Jul 22, 2016. Deutsche Bank Initiated Harman International Industries /DE/ on Jul 20, 2016 to “Buy”, Price Target of the shares are set at $94.Harman International Industries /DE/ was Initiated by Northcoast to “Buy” on Jun 14, 2016.

On the company’s financial health, Harman International Industries /DE/ reported $1.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $1.52. The company had revenue of $1881.00 million for the quarter, compared to analysts expectations of $1788.93 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 EPS.

Harman International Industries /DE/ opened for trading at $86.01 and hit $90.81 on the upside on Thursday, eventually ending the session at $87.54, with a gain of 7.03% or 5.75 points. The heightened volatility saw the trading volume jump to 29,58,567 shares. Company has a market cap of $6,176 M.

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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