Brokerages Set Horizon Global Corporation (HZN) PT at $20.20
Shares of Horizon Global Corporation (NYSE:HZN) have received a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $20.20.
Several analysts have issued reports on HZN shares. Bank of America Corporation lowered Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Zacks Investment Research upgraded Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, July 12th. BMO Capital Markets restated a “buy” rating and issued a $20.00 target price on shares of Horizon Global Corporation in a research note on Friday, October 13th. BidaskClub lowered Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Roth Capital set a $22.00 target price on Horizon Global Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd.
Horizon Global Corporation (NYSE HZN) traded up 0.77% on Wednesday, hitting $17.03. The company had a trading volume of 182,319 shares. The stock has a 50 day moving average of $17.27 and a 200-day moving average of $17.27. Horizon Global Corporation has a one year low of $15.67 and a one year high of $26.36. The stock’s market capitalization is $424.66 million.
Horizon Global Corporation (NYSE:HZN) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.17. The business 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%. Horizon Global Corporation’s revenue for the quarter was up 51.1% compared to the same quarter last year. Equities analysts anticipate that Horizon Global Corporation will post $1.09 EPS for the current year.
In other news, CEO A Mark Zeffiro sold 17,130 shares of Horizon Global Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $16.45, for a total value of $281,788.50. Following the completion of the transaction, the chief executive officer now directly owns 238,284 shares in the company, valued at $3,919,771.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.27% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Voya Investment Management LLC purchased a new position in shares of Horizon Global Corporation in the second quarter valued at $159,000. Wilen Investment Management CORP. grew its position in shares of Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after purchasing an additional 360 shares in the last quarter. Sei Investments Co. grew its position in shares of Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after purchasing an additional 4,561 shares in the last quarter. American International Group Inc. grew its position in shares of Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock valued at $183,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Horizon Global Corporation in the second quarter valued at $186,000. Institutional investors own 94.02% of the company’s stock.
Horizon Global Corporation Company Profile
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.
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