Harman International Industries (NYSE:HAR) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, American Banking & Market News reports. The firm currently has a $83.00 target price on the stock. Zacks‘ price objective would indicate a potential upside of 3.38% from the company’s current price.
Harman International Industries (NYSE:HAR) traded down 0.56% during mid-day trading on Thursday, hitting $79.84. 457,366 shares of the company’s stock traded hands. Harman International Industries has a 52-week low of $40.48 and a 52-week high of $85.76. The stock’s 50-day moving average is $79.21 and its 200-day moving average is $65.5. The company has a market cap of $5.393 billion and a P/E ratio of 41.97.
Harman International Industries (NYSE:HAR) last announced its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.10. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts expect that Harman International Industries will post $3.96 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on HAR. Analysts at Wells Fargo & Co. upgraded shares of Harman International Industries from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday. Separately, analysts at Robert W. Baird reiterated a “buy” rating on shares of Harman International Industries in a research note to investors on Tuesday, November 12th. They now have a $96.00 price target on the stock. Finally, analysts at Guggenheim raised their price target on shares of Harman International Industries from $52.00 to $70.00 in a research note to investors on Tuesday, November 12th. They now have a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $78.67.
Harman International Industries, Incorporated is engaged in the developing, manufacturing and marketing of audio products and electronic systems.
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