Horizon Global Corp. (HZN) Earns Market Outperform Rating from Analysts at CJS Securities
Stock analysts at CJS Securities began coverage on shares of Horizon Global Corp. (NYSE:HZN) in a report released on Tuesday. The firm set a “market outperform” rating on the stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Horizon Global Corp. from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 10th. TheStreet raised shares of Horizon Global Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Horizon Global Corp. presently has an average rating of “Buy” and a consensus target price of $14.00.
Shares of Horizon Global Corp. (NYSE:HZN) traded down 1.83% during trading on Tuesday, reaching $18.21. The company’s stock had a trading volume of 92,301 shares. The stock’s 50 day moving average price is $16.37 and its 200-day moving average price is $13.04. Horizon Global Corp. has a 12 month low of $8.04 and a 12 month high of $19.45. The firm has a market cap of $331.29 million, a PE ratio of 23.35 and a beta of 2.27.
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Horizon Global Corp. (NYSE:HZN) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.25. The company had revenue of $167.76 million for the quarter, compared to analysts’ expectations of $166.54 million. Horizon Global Corp. had a net margin of 2.40% and a return on equity of 360.31%. Equities analysts predict that Horizon Global Corp. will post $1.08 EPS for the current year.
A number of institutional investors have recently made changes to their positions in HZN. Royal Bank of Canada boosted its position in shares of Horizon Global Corp. by 5.9% in the second quarter. Royal Bank of Canada now owns 838,609 shares of the company’s stock valued at $9,518,000 after buying an additional 46,853 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Horizon Global Corp. by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,488 shares of the company’s stock valued at $653,000 after buying an additional 882 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Horizon Global Corp. during the second quarter valued at $162,000. Numeric Investors LLC boosted its position in shares of Horizon Global Corp. by 17.4% in the second quarter. Numeric Investors LLC now owns 16,230 shares of the company’s stock valued at $184,000 after buying an additional 2,400 shares during the last quarter. Finally, Bridgeway Capital Management Inc. boosted its position in shares of Horizon Global Corp. by 178.4% in the second quarter. Bridgeway Capital Management Inc. now owns 139,200 shares of the company’s stock valued at $1,580,000 after buying an additional 89,200 shares during the last quarter. 88.31% of the stock is currently owned by institutional investors and hedge funds.
Horizon Global Corp. Company Profile
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other related accessory products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through two segments: Cequent Americas and Cequent APEA.
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