Horizon Global Corp. (HZN) Downgraded by Zacks Investment Research
Horizon Global Corp. (NYSE:HZN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Horizon Global Corporation is a designer, manufacturer and distributor of towing, trailering, cargo management and accessory products for original equipment, aftermarket and retail customers. Horizon Global Corporation is based in Bloomfield Hills, United States. “
A number of other analysts have also recently issued reports on HZN. TheStreet raised Horizon Global Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. CJS Securities initiated coverage on Horizon Global Corp. in a report on Tuesday, September 20th. They set a “market outperform” rating and a $23.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.50.
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Horizon Global Corp. (NYSE:HZN) traded down 4.10% during midday trading on Tuesday, hitting $21.04. The stock had a trading volume of 317,931 shares. Horizon Global Corp. has a 52 week low of $8.04 and a 52 week high of $22.12. The stock has a market cap of $382.78 million, a P/E ratio of 26.97 and a beta of 2.24. The company has a 50-day moving average price of $18.89 and a 200-day moving average price of $14.01.
Horizon Global Corp. (NYSE:HZN) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The business had revenue of $167.76 million for the quarter, compared to analysts’ expectations of $166.54 million. Horizon Global Corp. had a return on equity of 360.31% and a net margin of 2.40%. Equities analysts expect that Horizon Global Corp. will post $1.09 EPS for the current year.
Several institutional investors have recently made changes to their positions in HZN. GSA Capital Partners LLP boosted its position in shares of Horizon Global Corp. by 4.7% in the second quarter. GSA Capital Partners LLP now owns 116,176 shares of the company’s stock worth $1,319,000 after buying an additional 5,200 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Horizon Global Corp. by 48.7% in the first quarter. Renaissance Technologies LLC now owns 115,400 shares of the company’s stock worth $1,452,000 after buying an additional 37,800 shares in the last quarter. Northpointe Capital LLC boosted its position in shares of Horizon Global Corp. by 5.8% in the second quarter. Northpointe Capital LLC now owns 223,567 shares of the company’s stock worth $2,537,000 after buying an additional 12,206 shares in the last quarter. Spark Investment Management LLC boosted its position in shares of Horizon Global Corp. by 362.8% in the first quarter. Spark Investment Management LLC now owns 135,600 shares of the company’s stock worth $1,705,000 after buying an additional 106,300 shares in the last quarter. Finally, BP Capital Fund Advisors LLC boosted its position in shares of Horizon Global Corp. by 2.2% in the first quarter. BP Capital Fund Advisors LLC now owns 437,478 shares of the company’s stock worth $5,503,000 after buying an additional 9,595 shares in the last quarter. 88.31% of the stock is currently owned by institutional investors.
About Horizon Global Corp.
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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