Harman Intl was Downgraded to a Hold Rating at Barclays

By Jason Carr

Harman Intl (NYSE: HAR) received a Hold rating and a $111 price target from Barclays analyst Brian Johnson today. The company’s shares closed yesterday at $109.72, close to its 52-week high of $110.85.

According to TipRanks.com, Johnson is a 4-star analyst with an average return of 2.5% and a 61.3% success rate. Johnson covers the Consumer Goods sector, focusing on stocks such as Tenneco Automotive, Delphi Automotive, and Johnson Controls.

Currently, the analyst consensus on Harman Intl is Hold and the average price target is $111, representing a 1.2% upside.

In a report issued on November 3, Pacific Crest also reiterated a Hold rating on the stock.

The company has a one year high of $110.85 and a one year low of $64.93. Currently, Harman Intl has an average volume of 886.8K.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is neutral on the stock. Most recently, in May 2016, Ralph Santana, the CMO of HAR sold 3,650 shares for a total of $263,421.

Harman International Industries, Inc. is engaged in designing, manufacturing and marketing audio and infotainment solutions for the automotive, consumer and professional markets supported by the brands, including AKG, Harman Kardon, Infinity, JBL, Lexicon, Mark Levinson, Martin, Revel, Selenium, Soundcraft, Studer and yurbuds. It operates through its segments: Infotainment, Lifestyle, Professional and Other. The Infotainment segment designs, manufactures and markets infotainment systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers. The Lifestyle segment designs, manufactures and markets automotive audio systems for vehicle applications to be installed primarily as original equipment by automotive manufacturers and mid-to high-end audio and consumer electronics for home, multimedia and mobile applications. The Professional segment designs, manufactures and markets loudspeakers, power amplifiers, digital signal processors, microphones, headphones and mixing consoles used by audio professionals in concert halls, stadiums, airports, houses of worship and other public spaces. The Other segment includes compensation, benefits and occupancy costs for corporate employees, net of reporting segment allocations, expenses associated with new technology innovation and the corporate brand identity campaign. The company was founded by Sidney Harman in 1980 and is headquartered in Stamford, CT.