Bank of America Corporation downgraded shares of Horizon Global Corporation (NYSE:HZN) from a neutral rating to an underperform rating in a research report released on Tuesday morning, Marketbeat reports.

A number of other research analysts have also commented on the company. Zacks Investment Research upgraded Horizon Global Corporation from a hold rating to a strong-buy rating and set a $21.00 price objective on the stock in a research report on Thursday, August 3rd. Roth Capital set a $22.00 price objective on Horizon Global Corporation and gave the company a buy rating in a research report on Wednesday, August 2nd. BMO Capital Markets increased their price objective on Horizon Global Corporation from $18.00 to $20.00 and gave the company an outperform rating in a research report on Wednesday, August 2nd. BidaskClub lowered Horizon Global Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Finally, TheStreet upgraded Horizon Global Corporation from a d rating to a c- rating in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Horizon Global Corporation presently has an average rating of Hold and a consensus price target of $20.29.

Shares of Horizon Global Corporation (NYSE:HZN) opened at 16.84 on Tuesday. Horizon Global Corporation has a one year low of $11.80 and a one year high of $26.36. The firm’s market cap is $419.92 million. The stock has a 50 day moving average price of $16.69 and a 200 day moving average price of $15.10.

Horizon Global Corporation (NYSE:HZN) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.17. The firm had revenue of $253.60 million for the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation had a positive return on equity of 18.86% and a negative net margin of 1.45%. The firm’s revenue was up 51.1% compared to the same quarter last year. On average, equities research analysts forecast that Horizon Global Corporation will post $1.09 EPS for the current year.

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Several large investors have recently bought and sold shares of the company. Wilen Investment Management CORP. boosted its position in shares of Horizon Global Corporation by 3.0% in the 2nd quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after purchasing an additional 360 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Horizon Global Corporation by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 76,822 shares of the company’s stock worth $1,104,000 after purchasing an additional 418 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Horizon Global Corporation by 0.8% in the 2nd quarter. PNC Financial Services Group Inc. now owns 78,513 shares of the company’s stock worth $1,127,000 after purchasing an additional 621 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Horizon Global Corporation by 1.3% in the 2nd quarter. Neuberger Berman Group LLC now owns 59,308 shares of the company’s stock worth $852,000 after purchasing an additional 776 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Horizon Global Corporation by 5.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,341 shares of the company’s stock worth $292,000 after purchasing an additional 973 shares during the last quarter. Institutional investors and hedge funds own 94.02% of the company’s stock.

About Horizon Global Corporation

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.

Analyst Recommendations for Horizon Global Corporation (NYSE:HZN)

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