Horizon Global (HZN) Downgraded to “Neutral” at B. Riley
B. Riley lowered shares of Horizon Global (NYSE:HZN) from a buy rating to a neutral rating in a research report released on Friday morning, Marketbeat.com reports. B. Riley currently has $3.00 price target on the stock, down from their previous price target of $10.50. B. Riley also issued estimates for Horizon Global’s FY2019 earnings at $0.69 EPS.
Several other research analysts have also recently commented on HZN. Zacks Investment Research upgraded shares of Horizon Global from a hold rating to a buy rating and set a $8.00 target price for the company in a report on Wednesday, October 10th. Roth Capital upgraded shares of Horizon Global from a neutral rating to a buy rating and raised their target price for the stock from $6.00 to $13.00 in a report on Wednesday, August 8th. Finally, ValuEngine cut shares of Horizon Global from a hold rating to a sell rating in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $11.71.
Shares of NYSE:HZN remained flat at $$2.56 during trading hours on Friday. 1,907,153 shares of the stock traded hands, compared to its average volume of 180,466. Horizon Global has a one year low of $2.51 and a one year high of $14.80. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59. The company has a market cap of $141.54 million, a price-to-earnings ratio of 2.61, a price-to-earnings-growth ratio of 11.78 and a beta of 1.20.
Several institutional investors and hedge funds have recently made changes to their positions in the business. LMR Partners LLP acquired a new stake in shares of Horizon Global during the second quarter worth approximately $447,000. Segall Bryant & Hamill LLC boosted its holdings in shares of Horizon Global by 64.5% during the second quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock worth $494,000 after purchasing an additional 32,487 shares during the period. Paloma Partners Management Co acquired a new stake in shares of Horizon Global during the second quarter worth approximately $684,000. Bank of America Corp DE boosted its holdings in shares of Horizon Global by 14.8% during the second quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock worth $777,000 after purchasing an additional 16,836 shares during the period. Finally, Skylands Capital LLC acquired a new stake in shares of Horizon Global during the third quarter worth approximately $927,000. Institutional investors own 73.87% of the company’s stock.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
Featured Article: Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Horizon Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Global and related companies with MarketBeat.com's FREE daily email newsletter.