Short Interest in Harris Grows By 48.3% (HRS)
Harris (NYSE:HRS) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,980,173 shares, an increase of 48.3% from the July 15th total of 1,334,999 shares, Analyst Ratings Network.com reports. Based on an average daily volume of 769,384 shares, the short-interest ratio is presently 2.6 days. Currently, 1.9% of the company’s shares are short sold.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “underweight” rating on shares of Harris in a research note on Wednesday, July 30th. They now have a $71.00 price target on the stock, down previously from $72.00. Analysts at JPMorgan Chase & Co. raised their price target on shares of Harris from $60.00 to $64.00 in a research note on Wednesday, July 30th.
Shares of Harris (NYSE:HRS) opened at 70.12 on Wednesday. Harris has a 52 week low of $55.46 and a 52 week high of $79.32. The stock’s 50-day moving average is $71.63 and its 200-day moving average is $73.17. The company has a market cap of $7.412 billion and a P/E ratio of 14.06.
Harris (NYSE:HRS) last announced its earnings results on Tuesday, July 29th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.13. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts predict that Harris will post $4.86 earnings per share for the current fiscal year.
Harris Corporation (NYSE:HRS), together with its subsidiaries, is an international communications and information technology (IT) company serving government and commercial markets in more than 125 countries.
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