Shares of Horizon Global Corp. (NYSE:HZN) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are covering the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $20.33.
Several research analysts have commented on HZN shares. Zacks Investment Research downgraded shares of Horizon Global Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 11th. CJS Securities initiated coverage on shares of Horizon Global Corp. in a research note on Tuesday, September 20th. They issued a “market outperform” rating and a $23.00 target price on the stock. Finally, TheStreet raised shares of Horizon Global Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th.
Shares of Horizon Global Corp. (NYSE:HZN) traded down 0.93% during midday trading on Monday, reaching $20.21. 84,083 shares of the company’s stock traded hands. The company has a 50 day moving average of $19.25 and a 200 day moving average of $14.16. Horizon Global Corp. has a 52-week low of $8.04 and a 52-week high of $22.12. The firm has a market cap of $367.68 million, a PE ratio of 25.91 and a beta of 2.24.
Horizon Global Corp. (NYSE:HZN) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.64 EPS for the quarter, topping the consensus estimate 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 predict that Horizon Global Corp. will post $1.09 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of HZN. Royal Bank of Canada boosted its stake 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 stake in Horizon Global Corp. during the second quarter valued at $8,868,000. Spitfire Capital LLC boosted its stake 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. boosted its stake 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 boosted its stake 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. 88.32% 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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