Horizon Global Corp. (HZN) Rating Lowered to Hold at 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 report released 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. “
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Horizon Global Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. CJS Securities assumed coverage on shares of Horizon Global Corp. in a report on Tuesday, September 20th. They set a “market outperform” rating and a $23.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Horizon Global Corp. has a consensus rating of “Buy” and an average price target of $15.50.
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Horizon Global Corp. (NYSE:HZN) traded down 4.10% during mid-day trading on Tuesday, reaching $21.04. 317,931 shares of the company were exchanged. The stock has a 50 day moving average of $18.89 and a 200-day moving average of $14.01. The stock has a market capitalization of $382.78 million, a price-to-earnings ratio of 26.97 and a beta of 2.24. Horizon Global Corp. has a one year low of $8.04 and a one year high of $22.12.
Horizon Global Corp. (NYSE:HZN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.25. The firm had revenue of $167.76 million for the quarter, compared to the consensus estimate of $166.54 million. Horizon Global Corp. had a net margin of 2.40% and a return on equity of 360.31%. On average, equities analysts expect that Horizon Global Corp. will post $1.09 earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Horizon Global Corp. by 5.9% in the second quarter. Royal Bank of Canada now owns 838,609 shares of the company’s stock worth $9,518,000 after buying an additional 46,853 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in 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 worth $653,000 after buying an additional 882 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Horizon Global Corp. during the second quarter worth about $162,000. Numeric Investors LLC increased its position in Horizon Global Corp. by 17.4% in the second quarter. Numeric Investors LLC now owns 16,230 shares of the company’s stock worth $184,000 after buying an additional 2,400 shares during the last quarter. Finally, Bridgeway Capital Management Inc. increased its position in Horizon Global Corp. by 178.4% in the second quarter. Bridgeway Capital Management Inc. now owns 139,200 shares of the company’s stock worth $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.
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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