Horizon Global Corp. (HZN) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Horizon Global Corp. (NYSE:HZN) from a hold rating to a buy rating in a research note published on Wednesday morning. The brokerage currently has $23.00 price objective on the stock.
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. “
Other equities research analysts also recently issued reports about the company. TheStreet raised Horizon Global Corp. from a sell rating to a hold rating in a research report on Thursday, September 8th. CJS Securities started coverage on Horizon Global Corp. in a research report on Tuesday, September 20th. They set a market outperform rating and a $23.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Horizon Global Corp. presently has a consensus rating of Buy and a consensus price target of $16.50.
Horizon Global Corp. (NYSE:HZN) opened at 20.4456 on Wednesday. Horizon Global Corp. has a one year low of $8.04 and a one year high of $22.12. The company has a 50-day moving average price of $19.04 and a 200-day moving average price of $14.06. The company has a market capitalization of $371.97 million, a price-to-earnings ratio of 26.2123 and a beta of 2.25.
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, topping analysts’ consensus estimates of $0.39 by $0.25. Horizon Global Corp. had a return on equity of 360.31% and a net margin of 2.40%. The business had revenue of $167.76 million for the quarter, compared to the consensus estimate of $166.54 million. Equities research analysts anticipate that Horizon Global Corp. will post $1.09 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Horizon Global Corp. by 5.9% in the second quarter. Royal Bank of Canada now owns 838,609 shares of the company’s stock worth $9,518,000 after buying an additional 46,853 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Horizon Global Corp. by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,488 shares of the company’s stock worth $653,000 after buying an additional 882 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in Horizon Global Corp. during the second quarter worth about $162,000. Numeric Investors LLC boosted its position in Horizon Global Corp. by 17.4% in the second quarter. Numeric Investors LLC now owns 16,230 shares of the company’s stock worth $184,000 after buying an additional 2,400 shares during the period. Finally, Bridgeway Capital Management Inc. boosted its position in Horizon Global Corp. by 178.4% in the second quarter. Bridgeway Capital Management Inc. now owns 139,200 shares of the company’s stock worth $1,580,000 after buying an additional 89,200 shares during the period. Institutional investors own 88.31% of the company’s stock.
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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