Horizon Global Corp. (HZN) Receives Average Rating of “Buy” from Brokerages
Horizon Global Corp. (NYSE:HZN) has received a consensus recommendation of “Buy” from the six analysts that are presently covering the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $19.00.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Horizon Global Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 11th. CJS Securities started coverage on Horizon Global Corp. in a report on Tuesday, September 20th. They set a “market outperform” rating and a $23.00 target price for the company. Finally, TheStreet raised 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 0.37% during midday trading on Monday, reaching $24.16. 89,529 shares of the company’s stock were exchanged. The stock has a market cap of $504.90 million, a PE ratio of 53.69 and a beta of 2.24. The company’s 50 day moving average is $21.07 and its 200-day moving average is $15.67. Horizon Global Corp. has a 12 month low of $8.06 and a 12 month high of $24.75.
Horizon Global Corp. (NYSE:HZN) last posted its earnings results on Wednesday, November 2nd. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.03. Horizon Global Corp. had a return on equity of 208.56% and a net margin of 1.39%. The company earned $151.72 million during the quarter, compared to the consensus estimate of $154.49 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue was down 1.1% on a year-over-year basis. Equities analysts forecast that Horizon Global Corp. will post $1.10 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wilen Investment Management CORP. acquired a new position in shares of Horizon Global Corp. during the second quarter valued at approximately $139,000. Nationwide Fund Advisors increased its position in shares of Horizon Global Corp. by 5.7% in the second quarter. Nationwide Fund Advisors now owns 12,413 shares of the company’s stock valued at $141,000 after buying an additional 672 shares during the last quarter. Sei Investments Co. increased its position in shares of Horizon Global Corp. by 109.2% in the third quarter. Sei Investments Co. now owns 7,156 shares of the company’s stock valued at $143,000 after buying an additional 3,735 shares during the last quarter. Bank of Montreal Can increased its position in shares of Horizon Global Corp. by 1,835.1% in the third quarter. Bank of Montreal Can now owns 7,276 shares of the company’s stock valued at $145,000 after buying an additional 6,900 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new position in shares of Horizon Global Corp. during the second quarter valued at approximately $162,000. 73.95% of the stock is owned by hedge funds and other institutional investors.
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.
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