Could Harman International Industries Inc Change Direction After Today’s Bullish Options Activity?

 Could Harman International Industries Inc Change Direction After Today's Bullish Options Activity?

In today’s session Harman International Industries Inc (HAR) registered an unusually high (323) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious HAR increase. With 323 contracts traded and 6304 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: HAR161021C00080000 closed last at: $1.2 or 51% down. About 257,651 shares traded hands. Harman International Industries Inc (NYSE:HAR) has declined 3.75% since March 14, 2016 and is downtrending. It has underperformed by 9.37% the S&P500.

Analysts await Harman International Industries Inc (NYSE:HAR) to report earnings on November, 3. They expect $1.54 earnings per share, up 4.05% or $0.06 from last year’s $1.48 per share. HAR’s profit will be $108.64 million for 12.98 P/E if the $1.54 EPS becomes a reality. After $1.57 actual earnings per share reported by Harman International Industries Inc for the previous quarter, Wall Street now forecasts -1.91% negative EPS growth.

Harman International Industries Inc (NYSE:HAR) Ratings Coverage

Out of 15 analysts covering Harman (NYSE:HAR), 8 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 53% are positive. Harman has been the topic of 28 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Harman International Industries Inc (NYSE:HAR) rating on Friday, August 5. Deutsche Bank has “Buy” rating and $103 price target. RBC Capital Markets maintained it with “Outperform” rating and $90 target price in Friday, January 29 report. FBR Capital maintained Harman International Industries Inc (NYSE:HAR) rating on Friday, August 5. FBR Capital has “Mkt Perform” rating and $90 price target. As per Friday, August 5, the company rating was downgraded by Robert W. Baird. As per Friday, July 22, the company rating was downgraded by Pacific Crest. William Blair initiated the stock with “Outperform” rating in Friday, November 13 report. The company was initiated on Tuesday, December 22 by Susquehanna. The stock of Harman International Industries Inc (NYSE:HAR) has “Underperform” rating given on Wednesday, October 7 by Jefferies. The company was initiated on Friday, June 10 by Piper Jaffray. On Thursday, March 31 the stock rating was initiated by Goldman Sachs with “Buy”.

According to Zacks Investment Research, “Harman International Industries, Incorporated is engaged in the developing, manufacturing and marketing of audio products and electronic systems. It offers infotainment systems for vehicle applications; automotive audio systems for vehicle applications; mid-to high-end loudspeaker and electronics for home, multimedia, and mobile applications; home audio and theater systems, and distributed systems for home applications, transducers and built-in speakers for notebook computers; audio systems for personal computers; and aftermarket mobile products. Harman International Industries, Incorporated is headquartered in Stamford, Connecticut.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.25, from 1.36 in 2016Q1. The ratio dropped, as 60 funds sold all Harman International Industries Inc shares owned while 126 reduced positions. 69 funds bought stakes while 138 increased positions. They now own 65.11 million shares or 5.26% less from 68.73 million shares in 2016Q1.
Glenmede Na reported 1,218 shares or 0% of all its holdings. Metropolitan Life Insur Communications Ny holds 38,060 shares or 0.02% of its portfolio. Cornerstone Capital Mngmt Limited Liability Company has invested 0.01% of its portfolio in Harman International Industries Inc (NYSE:HAR). E&G Lp, a Texas-based fund reported 14,482 shares. Signaturefd Limited Co reported 187 shares or 0% of all its holdings. M&T Commercial Bank, a New York-based fund reported 6,436 shares. Washington Trust National Bank accumulated 650 shares or 0.01% of the stock. South Dakota Council last reported 10,600 shares in the company. Goodman Financial has invested 1.83% of its portfolio in Harman International Industries Inc (NYSE:HAR). Skylands Lc last reported 0.08% of its portfolio in the stock. Employees Retirement Sys Of Texas accumulated 0% or 4,000 shares. Bragg Advsrs accumulated 17,995 shares or 0.23% of the stock. Usca Ria Lc has 7,010 shares for 0.08% of their US portfolio. Huntington Bank has invested 0% of its portfolio in Harman International Industries Inc (NYSE:HAR). The New York-based Visium Asset Mgmt L P has invested 0.17% in Harman International Industries Inc (NYSE:HAR).

Insider Transactions: Since May 6, 2016, the stock had 0 insider purchases, and 4 sales for $1.67 million net activity. Shares for $911,272 were sold by Mauser Michael on Saturday, September 10. $425,673 worth of Harman International Industries Inc (NYSE:HAR) shares were sold by Parker Herbert K. On Friday, May 6 the insider Santana Ralph sold $263,421.

Harman International Industries, Incorporated is engaged in the designing and engineering of connected products and solutions for automakers, clients and enterprises, including connected car systems, audio and visual products, enterprise automation solutions and connected services. The company has a market cap of $5.64 billion. The Company’s divisions include Connected Car, Lifestyle Audio, Professional Solutions, Connected Services and Other. It has a 16.06 P/E ratio. The Connected Car segment designs, makes and markets connected car systems for vehicle applications.

HAR Company Profile

Harman International Industries, Incorporated, incorporated on January 31, 1980, is engaged in the designing and engineering of connected products and solutions for automakers, clients and enterprises, including connected car systems, audio and visual products, enterprise automation solutions and connected services. The Company’s divisions include Connected Car, Lifestyle Audio, Professional Solutions, Connected Services and Other. The Company’s brands include AKG, AMX, Crown, Harman/Kardon, Infinity, JBL, JBL Professional, Lexicon, Mark Levinson, Martin, Revel, Soundcraft and Studer. The Company’s software solutions power mobile devices and systems that are designed to be connected, integrated, personalized and adaptive across all platforms, from work and home, to car and mobile.

More notable recent Harman International Industries Inc (NYSE:HAR) news were published by: Fool.com which released: “Why Harman International Industries Inc. Stock Tumbled Today” on April 28, 2016, also Finance.Yahoo.com with their article: “HARMAN Welcomes DNCE as Newest JBL® Global Brand Ambassadors” published on January 06, 2016, Fool.com published: “Why Harman International Industries Inc. Shares Plunged” on January 28, 2016. More interesting news about Harman International Industries Inc (NYSE:HAR) were released by: Bloomberg.com and their article: “Former Harman International VP Charged With Insider Trading” published on February 06, 2016 as well as Reuters.com‘s news article titled: “Harman revenue beats on strong demand from automakers” with publication date: August 04, 2016.

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