Horizon Global (HZN) Downgraded to “Neutral” at B. Riley

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B. Riley lowered shares of Horizon Global (NYSE:HZN) from a buy rating to a neutral rating in a research note released on Friday morning, MarketBeat Ratings reports. B. Riley currently has $3.00 price target on the stock, down from their prior price target of $10.50. B. Riley also issued estimates for Horizon Global’s FY2019 earnings at $0.69 EPS.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Horizon Global from a hold rating to a buy rating and set a $8.00 price objective on the stock in a report on Wednesday, October 10th. Roth Capital raised shares of Horizon Global from a neutral rating to a buy rating and increased their price objective for the stock from $6.00 to $13.00 in a report on Wednesday, August 8th. Finally, ValuEngine cut shares of Horizon Global from a hold rating to a sell rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $11.71.

Shares of Horizon Global stock remained flat at $$2.56 during trading hours on Friday. 1,907,153 shares of the stock were exchanged, compared to its average volume of 180,466. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59. Horizon Global has a one year low of $2.51 and a one year high of $14.80. The company has a market cap of $141.54 million, a P/E ratio of 2.61, a P/E/G ratio of 11.78 and a beta of 1.20.

Horizon Global (NYSE:HZN) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.20). Horizon Global had a positive return on equity of 8.57% and a negative net margin of 15.61%. The firm had revenue of $227.80 million during the quarter, compared to analyst estimates of $239.28 million. During the same period last year, the business earned $0.38 EPS. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, equities analysts expect that Horizon Global will post 0.18 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake in Horizon Global by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,572,752 shares of the company’s stock valued at $9,374,000 after buying an additional 170,194 shares during the period. First Manhattan Co. increased its stake in Horizon Global by 6.8% during the 2nd quarter. First Manhattan Co. now owns 1,363,828 shares of the company’s stock valued at $8,128,000 after buying an additional 87,207 shares during the period. Sagard Capital Partners Management Corp acquired a new position in Horizon Global during the 2nd quarter valued at about $7,230,000. Rutabaga Capital Management LLC MA increased its stake in Horizon Global by 26.0% during the 3rd quarter. Rutabaga Capital Management LLC MA now owns 941,437 shares of the company’s stock valued at $6,712,000 after buying an additional 194,246 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its stake in Horizon Global by 227.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 535,305 shares of the company’s stock valued at $3,190,000 after buying an additional 371,719 shares during the period. 73.87% of the stock is currently owned by institutional investors and hedge funds.

Horizon Global Company Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.

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Analyst Recommendations for Horizon Global (NYSE:HZN)

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