Zacks Investment Research upgraded shares of Horizon Global Corporation (NYSE:HZN) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $16.00 price target 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. “

Several other research analysts have also commented on HZN. Bank of America Corporation began coverage on Horizon Global Corporation in a research report on Tuesday, March 14th. They issued a neutral rating and a $18.00 target price for the company. TheStreet upgraded Horizon Global Corporation from a d rating to a c- rating in a research report on Friday, May 26th. Finally, BMO Capital Markets reiterated an outperform rating and issued a $18.00 target price on shares of Horizon Global Corporation in a research report on Wednesday, April 12th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $19.43.

Shares of Horizon Global Corporation (NYSE HZN) opened at 14.57 on Wednesday. Horizon Global Corporation has a 52 week low of $11.80 and a 52 week high of $26.36. The stock’s market cap is $372.72 million. The firm has a 50-day moving average price of $14.70 and a 200-day moving average price of $17.05.

Horizon Global Corporation (NYSE:HZN) last issued its earnings results on Wednesday, May 3rd. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.09 by $0.26. The firm had revenue of $203.28 million during the quarter, compared to analyst estimates of $204.90 million. Horizon Global Corporation had a positive return on equity of 11.48% and a negative net margin of 3.46%. On average, analysts forecast that Horizon Global Corporation will post $0.98 earnings per share for the current fiscal year.

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Horizon Global Corporation declared that its board has initiated a share buyback plan on Wednesday, May 3rd that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Scott G. Kunselman acquired 2,000 shares of Horizon Global Corporation stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $13.97 per share, for a total transaction of $27,940.00. Following the transaction, the director now directly owns 11,160 shares of the company’s stock, valued at approximately $155,905.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.27% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HZN. Capital Fund Management S.A. bought a new position in Horizon Global Corporation during the first quarter worth about $149,000. Envestnet Asset Management Inc. bought a new position in Horizon Global Corporation during the fourth quarter worth about $153,000. Suntrust Banks Inc. bought a new position in Horizon Global Corporation during the first quarter worth about $167,000. American International Group Inc. raised its position in Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock worth $183,000 after buying an additional 2,700 shares in the last quarter. Finally, USA Financial Portformulas Corp bought a new position in Horizon Global Corporation during the fourth quarter worth about $257,000. Institutional investors and hedge funds own 88.68% 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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Analyst Recommendations for Horizon Global Corporation (NYSE:HZN)

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