Harman International Industries Inc. (NYSE:HAR)‘s stock had its “buy” rating reiterated by research analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Saturday. They currently have a $94.00 price objective on the stock, down from their previous price objective of $100.00. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 12.31% from the company’s current price.

Several other research analysts have also commented on the stock. Royal Bank Of Canada lowered shares of Harman International Industries from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $85.00 to $73.00 in a research note on Wednesday, June 29th. Zacks Investment Research lowered shares of Harman International Industries from a “hold” rating to a “sell” rating in a research note on Wednesday. Barclays PLC reissued an “overweight” rating and issued a $103.00 price objective (down previously from $105.00) on shares of Harman International Industries in a research note on Tuesday, July 19th. Pacific Crest reissued a “hold” rating on shares of Harman International Industries in a research note on Friday, August 5th. Finally, Northcoast Research initiated coverage on shares of Harman International Industries in a research note on Tuesday, June 14th. They issued a “buy” rating and a $105.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $98.44.

Analyst Recommendations for Harman International Industries (NYSE:HAR)

Shares of Harman International Industries (NYSE:HAR) opened at 83.70 on Friday. The firm’s 50-day moving average is $83.82 and its 200 day moving average is $80.51. Harman International Industries has a 52-week low of $64.93 and a 52-week high of $112.68. The stock has a market cap of $5.84 billion, a P/E ratio of 16.77 and a beta of 2.06.

Harman International Industries (NYSE:HAR) last announced its earnings results on Thursday, August 4th. The company reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The company earned $1.90 billion during the quarter, compared to analyst estimates of $1.78 billion. Harman International Industries had a net margin of 5.23% and a return on equity of 18.54%. Harman International Industries’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 earnings per share. Analysts forecast that Harman International Industries will post $6.85 earnings per share for the current fiscal year.

In other news, EVP Herbert K. Parker sold 5,006 shares of Harman International Industries stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $85.03, for a total value of $425,660.18. Following the transaction, the executive vice president now directly owns 17,018 shares of the company’s stock, valued at approximately $1,447,040.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Mauser sold 11,260 shares of Harman International Industries stock in a transaction on Saturday, September 10th. The shares were sold at an average price of $80.93, for a total transaction of $911,271.80. Following the completion of the transaction, the executive vice president now directly owns 12,801 shares in the company, valued at $1,035,984.93. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. First American Bank boosted its position in shares of Harman International Industries by 916.3% in the third quarter. First American Bank now owns 39,687 shares of the company’s stock worth $3,352,000 after buying an additional 35,782 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Harman International Industries by 337.2% in the third quarter. Fulton Bank N.A. now owns 14,545 shares of the company’s stock worth $1,228,000 after buying an additional 11,218 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Harman International Industries by 18.5% in the third quarter. BNP Paribas Arbitrage SA now owns 22,179 shares of the company’s stock worth $1,873,000 after buying an additional 3,461 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in shares of Harman International Industries during the third quarter worth approximately $211,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Harman International Industries during the second quarter worth approximately $205,000. 95.84% of the stock is currently owned by institutional investors and hedge funds.

About Harman International Industries

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.

5 Day Chart for NYSE:HAR

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