Todays Report: Today, Horizon Global Corp. (HZN) Cut to Hold at The Zacks Investment Research

Today, Horizon Global Corp. (HZN) Cut to Hold at The Zacks Investment Research

Horizon Global Corp. (NYSE:HZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors 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 equities research analysts have also recently issued reports about the company. TheStreet raised Horizon Global Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. CJS Securities began coverage on Horizon Global Corp. in a research note on Tuesday, September 20th. They set a “market outperform” rating and a $23.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $17.40.

Horizon Global Corp. (NYSE:HZN) traded down 0.84% on Tuesday, reaching $23.50. The company had a trading volume of 116,872 shares. The stock’s 50-day moving average is $21.54 and its 200-day moving average is $16.09. The company has a market capitalization of $491.10 million, a P/E ratio of 52.22 and a beta of 2.24. Horizon Global Corp. has a 52 week low of $8.06 and a 52 week high of $24.75.

Horizon Global Corp. (NYSE:HZN) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Horizon Global Corp. had a return on equity of 208.56% and a net margin of 1.39%. The company had revenue of $151.72 million for the quarter, compared to analysts’ expectations of $154.49 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts forecast that Horizon Global Corp. will post $1.10 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in HZN. Wilen Investment Management CORP. purchased a new stake in shares of Horizon Global Corp. during the second quarter worth about $139,000. Nationwide Fund Advisors raised its stake in shares of Horizon Global Corp. by 5.7% in the second quarter. Nationwide Fund Advisors now owns 12,413 shares of the company’s stock worth $141,000 after buying an additional 672 shares during the last quarter. Sei Investments Co. raised its stake in shares of Horizon Global Corp. by 109.2% in the third quarter. Sei Investments Co. now owns 7,156 shares of the company’s stock worth $143,000 after buying an additional 3,735 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Horizon Global Corp. by 1,835.1% in the third quarter. Bank of Montreal Can now owns 7,276 shares of the company’s stock worth $145,000 after buying an additional 6,900 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY purchased a new stake in shares of Horizon Global Corp. during the second quarter worth about $162,000. Hedge funds and other institutional investors own 73.95% of the company’s stock.

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.

Related posts

Leave a Comment