Harman International Industries Inc. (HAR): Today's Featured Consumer Durables Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Harman International Industries ( HAR) pushed the Consumer Durables industry lower today making it today's featured Consumer Durables laggard. The industry as a whole closed the day down 2.7%. By the end of trading, Harman International Industries fell $4.20 (-4.1%) to $99.23 on heavy volume. Throughout the day, 1,670,457 shares of Harman International Industries exchanged hands as compared to its average daily volume of 738,800 shares. The stock ranged in price between $97.76-$103.61 after having opened the day at $103.34 as compared to the previous trading day's close of $103.43. Other companies within the Consumer Durables industry that declined today were: Johnson Outdoors ( JOUT), down 9.3%, HNI Corporation ( HNI), down 8.2%, Steelcase ( SCS), down 6.0% and Fortune Brands Home & Security ( FBHS), down 5.8%.

Harman International Industries, Incorporated designs, develops, manufactures, and markets audio products, lighting solutions, and electronic systems, as well as digitally integrated audio and infotainment systems for the automotive industry worldwide. Harman International Industries has a market cap of $6.9 billion and is part of the consumer goods sector. The company has a P/E ratio of 45.3, above the S&P 500 P/E ratio of 17.7. Shares are up 26.4% year to date as of the close of trading on Friday. Currently there are 4 analysts that rate Harman International Industries a buy, 1 analyst rates it a sell, and none rate it a hold.

TheStreet Ratings rates Harman International Industries as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the consumer durables industry could consider Consumer Discretionary Sel Sec SPDR ( XLY) while those bearish on the consumer durables industry could consider ProShares Ultra Sht Consumer Goods ( SZK).

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