The Horizon Global Corp. (HZN) gets “Hold” status at Zacks Investment Research

The Horizon Global Corp. (HZN) gets “Hold” status at Zacks Investment Research

Zacks Investment Research cut shares of Horizon Global Corp. (NYSE:HZN) from a strong-buy rating to a hold rating in a report released on Tuesday morning.

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 equities research analysts have also commented on HZN. TheStreet upgraded Horizon Global Corp. from a sell rating to a hold rating in a research report on Thursday, September 8th. CJS Securities initiated coverage on Horizon Global Corp. in a research 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. Horizon Global Corp. has an average rating of Buy and a consensus target price of $15.50.

Horizon Global Corp. (NYSE:HZN) opened at 21.04 on Tuesday. Horizon Global Corp. has a 12-month low of $8.04 and a 12-month high of $22.12. The stock has a 50 day moving average price of $18.89 and a 200-day moving average price of $14.01. The stock has a market capitalization of $382.78 million, a P/E ratio of 26.97 and a beta of 2.25.

Horizon Global Corp. (NYSE:HZN) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.25. The business had revenue of $167.76 million for the quarter, compared to analyst estimates of $166.54 million. Horizon Global Corp. had a return on equity of 360.31% and a net margin of 2.40%. Equities research analysts expect that Horizon Global Corp. will post $1.09 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in HZN. Wilen Investment Management CORP. purchased a new position in shares of Horizon Global Corp. during the second quarter worth approximately $139,000. Nationwide Fund Advisors raised its position 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. Metropolitan Life Insurance Co. NY purchased a new position in shares of Horizon Global Corp. during the second quarter worth approximately $162,000. Numeric Investors LLC raised 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 worth $184,000 after buying an additional 2,400 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Horizon Global Corp. during the second quarter worth approximately $205,000. Hedge funds and other institutional investors own 88.31% 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.

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