Horizon Global Corp. (NYSE:HZN) – Investment analysts at Barrington Research upped their FY2016 earnings estimates for shares of Horizon Global Corp. in a research note issued on Tuesday. Barrington Research analyst R. Hokanson now anticipates that the firm will post earnings of $1.04 per share for the year, up from their prior estimate of $1.00. Barrington Research also issued estimates for Horizon Global Corp.’s FY2017 earnings at $1.44 EPS and FY2018 earnings at $1.78 EPS.
Several other analysts have also recently commented on HZN. Zacks Investment Research cut Horizon Global Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. TheStreet upgraded Horizon Global Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Finally, 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 target price for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $16.50.
Horizon Global Corp. (NYSE:HZN) opened at 20.91 on Wednesday. Horizon Global Corp. has a 52 week low of $8.04 and a 52 week high of $22.12. The firm has a 50-day moving average of $19.04 and a 200 day moving average of $14.06. The stock has a market capitalization of $380.42 million, a price-to-earnings ratio of 26.81 and a beta of 2.25.
Horizon Global Corp. (NYSE:HZN) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.25. The company had revenue of $167.76 million for the quarter, compared to analyst estimates of $166.54 million. Horizon Global Corp. had a net margin of 2.40% and a return on equity of 360.31%.
Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised 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 valued at $9,518,000 after buying an additional 46,853 shares during the period. Emerald Acquisition Ltd. bought a new position in Horizon Global Corp. during the second quarter valued at approximately $8,868,000. Spitfire Capital LLC raised its position in Horizon Global Corp. by 6,557.0% in the second quarter. Spitfire Capital LLC now owns 739,796 shares of the company’s stock valued at $8,397,000 after buying an additional 728,683 shares during the period. Vanguard Group Inc. raised its position in Horizon Global Corp. by 6.1% in the second quarter. Vanguard Group Inc. now owns 655,838 shares of the company’s stock valued at $7,444,000 after buying an additional 37,507 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Horizon Global Corp. by 7.2% in the second quarter. Dimensional Fund Advisors LP now owns 620,515 shares of the company’s stock valued at $7,043,000 after buying an additional 41,536 shares during the period. 88.31% of the stock is currently owned by hedge funds and other 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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