Take Advantage Of The Overreaction In Harman International
Alpha Gen Capital
Alpha Gen Capital
Fri, Aug. 5, 9:04 AM
- R.W. Baird downgrades Harman International Industries (NYSE:HAR) to Neutral from Outperform.
- The investment firm makes the valuation call following Harman's 7% post-earnings jump yesterday.
- Piper Jaffray sticks with a Neutral rating on Harman.
- "Key secular growth themes in the Connected Car segment appear intact, though with sales growth unlikely to revisit double-digits until 2019, we question whether investors will bid HAR's multiple substantially higher from here," writes analyst Alexanded Potter.
Thu, Aug. 4, 8:04 AM
Wed, Aug. 3, 5:30 PM
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Wed, Jul. 20, 2:10 PM
- Shares of Harman International Industries (HAR +4.5%) pop after Deutsche Bank initiates coverage with a Buy rating.
- "We believe that cockpit electronics and especially infotainment will continue to represent one of the fastest growing areas in the Automotive Industry," writes DB analyst Patrick Nolan.
Thu, Apr. 28, 8:11 AM
Thu, Apr. 28, 8:09 AM
Wed, Apr. 27, 5:30 PM
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Wed, Apr. 20, 10:43 AM
- Baird notes that North American automobile production was up 5% in Q1 to top expectations. Production schedules for Q2 point to 3% growth.
- Strong gains in truck and SUV builds underpinned the growth, while inventory levels have held steady on consistent consumer demand.
- Baird thinks the trend looks favorable through the summer season.
- Suppliers rated at Overweight: ALV, BWA, DLPH, HAR, JCI, MBLY, VC.
- Suppliers rated at Neutral: GNTX, MEI, MPG.
- Baird analyst David Leiker ranks #240 out of 8,906 analysts on TipRanks.
- Now read Shifting The Gears On Auto Industry Growth
Mon, Mar. 14, 9:33 AM
- Harman International Industries (HAR +0.8%) is upgraded by Evercore ISI to a Buy rating from Neutral.
- The company has been attracting attention due to its strategic positioning with connected technology in the automotive and broader consumer goods sectors.
- New partners include Google, Microsoft, and Under Armour.
- Shares of Harman trade 45% below their 52-week high.
Fri, Mar. 11, 8:16 AM
- Harman International (NYSE:HAR) announces it completed the acquisition of cybersecurity specialty firm TowerSec. The TowerSec property will be added to Harman's Connected Car Division.
- The company anticipates the transaction will be dilutive to operating earnings by around $0.05 in FY16, excluding transaction costs.
Mon, Feb. 8, 6:48 PM
- Infotainment system and connected service provider Harman (NYSE:HAR) is partnering with 3G/4G patent owner and R&D provider InterDigital (NASDAQ:IDCC) to provide a suite of standards-compliant IoT services.
- The solution is said to pair InterDigital's oneMPOWER IoT service platform with Harman's "excellence in IoT systems integration and service management." The companies promise the solution "will further facilitate application development, analytics and other data services based on the simple and flexible data environment while ensuring a robust and scalable standards-based solution."
- The news comes less than a week after Cisco announced it's buying leading IoT service provider Jasper Technologies for $1.4B+. Amazon, IBM, Microsoft, and a slew of other tech giants have also unveiled IoT service offerings, each hoping to profit from a surge in the number of Web-connected embedded devices being deployed by enterprises and service providers.
Mon, Feb. 8, 8:24 AM
Thu, Jan. 28, 11:06 AM
- Harman International (HAR -6.2%) reported revenue from its connected car business increased 2% to $737M in Q4. The lifestyle business saw a 20% revenue pop to $625M.
- The company says it's on track to meet its full-year plan, although analysts and investors may have been factoring in a bit more than that.
- Harman's key partnerships include more than just automakers - with Google, Microsoft, and Under Armour all on board with IoT projects.
- Shares of Harman are now down 21% YTD.
- Previously: Harman International lower after earnings (Jan. 28 2016)
Thu, Jan. 28, 8:08 AM
- Harman (NYSE:HAR) declares $0.35/share quarterly dividend, in line with previous.
- Forward yield 1.76%
- Payable Feb. 23; for shareholders of record Feb. 8; ex-div Feb. 4.
Thu, Jan. 28, 8:03 AM
- Harman (NYSE:HAR): FQ2 EPS of $1.84 beats by $0.12.
- Revenue of $1.77B (+12.0% Y/Y) misses by $30M.
- Shares +0.6% PM.
Wed, Jan. 27, 5:30 PM
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