Piper Jaffray Initiates Coverage on Harman International Industries /DE/ to Neutral

Piper Jaffray Initiates Coverage on Harman International Industries /DE/(NYSE:HAR). The shares have been rated Neutral. The rating by Piper Jaffray was issued on Jun 9, 2016.

In a different note, Goldman Sachs said it Initiates Coverage on Harman International Industries /DE/, according to a research note issued on Mar 31, 2016. The shares have been rated ‘Buy’ by the firm. On Mar 14, 2016, Evercore ISI Group said it Upgrades its rating on Harman International Industries /DE/. In the research note, the firm Lowers the price-target to $135.00 per share. The shares have been rated ‘Buy’ by the firm.

Harman International Industries /DE/ (HAR) made into the market gainers list on Wednesdays trading session with the shares advancing 1.22% or 0.91 points. Due to strong positive momentum, the stock ended at $75.75, which is also near the day’s high of $77.059. The stock began the session at $75.31 and the volume stood at 5,82,768 shares. The 52-week high of the shares is $128.6 and the 52 week low is $66.2. The company has a current market capitalization of $5,345 M and it has 7,05,54,695 shares in outstanding.

Harman International Industries /DE/(HAR) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.63B. Analysts had an estimated revenue of $1.69B. Earnings per share were $1.36. Analysts had estimated an EPS of $1.44.

Several Insider Transactions has been reported to the SEC. On May 10, 2016, Ralph Santana (Chief Marketing Officer) sold 3,650 shares at $72.17 per share price.Also, 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.

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