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.
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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