Horizon Global Corp. (NYSE:HZN) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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 analysts have also recently weighed in on the stock. CJS Securities assumed 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 for the company. TheStreet raised shares of Horizon Global Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $15.50.

Horizon Global Corp. (NYSE:HZN) traded down 4.10% during mid-day trading on Tuesday, hitting $21.04. 317,931 shares of the company were exchanged. The company has a 50 day moving average of $18.89 and a 200 day moving average of $14.01. Horizon Global Corp. has a 12-month low of $8.04 and a 12-month high of $22.12. The stock has a market cap of $382.78 million, a P/E ratio of 26.97 and a beta of 2.24.

Horizon Global Corp. (NYSE:HZN) last released its earnings results on Tuesday, August 9th. The company reported $0.64 earnings per share for the quarter, beating the 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 business earned $167.76 million during the quarter, compared to analysts’ expectations of $166.54 million. On average, equities research analysts expect that Horizon Global Corp. will post $1.09 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Horizon Global Corp. during the second quarter valued at about $1,130,000. JPMorgan Chase & Co. increased its stake in shares of 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 in the last quarter. GSA Capital Partners LLP increased its stake in shares of Horizon Global Corp. by 4.7% in the second quarter. GSA Capital Partners LLP now owns 116,176 shares of the company’s stock valued at $1,319,000 after buying an additional 5,200 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Horizon Global Corp. by 3.5% in the second quarter. California Public Employees Retirement System now owns 142,800 shares of the company’s stock valued at $1,621,000 after buying an additional 4,800 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in shares of Horizon Global Corp. during the second quarter valued at about $8,868,000. 88.31% of the stock is owned by institutional investors and hedge funds.

Horizon Global Corp. Company Profile

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.

5 Day Chart for NYSE:HZN

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