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.

Horizon Global (NYSE:HZN) last posted its quarterly earnings data on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.20). Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%. The business had revenue of $227.80 million for the quarter, compared to the consensus estimate of $239.28 million. During the same quarter last year, the business posted $0.38 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts forecast that Horizon Global will post 0.18 earnings per share for the current year.

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.

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Analyst Recommendations for Horizon Global (NYSE:HZN)

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