Zacks Investment Research upgraded shares of Horizon Global Corp. (NYSE:HZN) from a hold rating to a buy rating in a research note issued to investors on Wednesday. They currently have $23.00 price target on the stock.
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. “
Several other equities research analysts have also recently issued reports on HZN. TheStreet upgraded shares of Horizon Global Corp. from a sell rating to a hold rating in a research report on Thursday, September 8th. CJS Securities started coverage on shares of Horizon Global Corp. in a research report on Tuesday, September 20th. They issued a market outperform rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Horizon Global Corp. has an average rating of Buy and an average price target of $17.40.
Horizon Global Corp. (NYSE:HZN) opened at 20.40 on Wednesday. The stock has a market capitalization of $371.14 million, a price-to-earnings ratio of 26.15 and a beta of 2.24. Horizon Global Corp. has a 12 month low of $8.04 and a 12 month high of $22.12. The company has a 50-day moving average of $19.25 and a 200 day moving average of $14.16.
Horizon Global Corp. (NYSE:HZN) last issued its earnings results on Tuesday, August 9th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.25. Horizon Global Corp. had a net margin of 2.40% and a return on equity of 360.31%. The company had revenue of $167.76 million for the quarter, compared to analysts’ expectations of $166.54 million. On average, equities research analysts anticipate that Horizon Global Corp. will post $1.09 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Horizon Global Corp. during the second quarter valued at $8,868,000. Spitfire Capital LLC increased 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 last quarter. Loomis Sayles & Co. L P increased its position in Horizon Global Corp. by 54.3% in the second quarter. Loomis Sayles & Co. L P now owns 590,643 shares of the company’s stock valued at $6,704,000 after buying an additional 207,856 shares during the last quarter. JPMorgan Chase & Co. increased its position in Horizon Global Corp. by 155.6% in the second quarter. JPMorgan Chase & Co. now owns 189,060 shares of the company’s stock valued at $2,146,000 after buying an additional 115,100 shares during the last quarter. Finally, Spark Investment Management LLC increased its position in Horizon Global Corp. by 362.8% in the first quarter. Spark Investment Management LLC now owns 135,600 shares of the company’s stock valued at $1,705,000 after buying an additional 106,300 shares during the last quarter. Institutional investors and hedge funds own 88.32% 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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