Zacks Investment Research lowered shares of Horizon Global Corporation (NYSE:HZN) from a hold rating to a sell rating in a report issued on Tuesday.

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. “

HZN has been the subject of a number of other reports. Bank of America Corporation lowered Horizon Global Corporation from a neutral rating to an underperform rating in a research report on Tuesday, September 5th. BMO Capital Markets reiterated a buy rating and issued a $18.00 price objective on shares of Horizon Global Corporation in a research report on Thursday, July 13th. Roth Capital set a $22.00 price objective on Horizon Global Corporation and gave the stock a buy rating in a research report on Wednesday, August 2nd. Finally, BidaskClub lowered Horizon Global Corporation from a hold rating to a sell rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Horizon Global Corporation has a consensus rating of Hold and an average price target of $19.83.

Horizon Global Corporation (NYSE:HZN) traded down $0.39 during trading on Tuesday, hitting $14.68. The company had a trading volume of 142,615 shares, compared to its average volume of 182,553. The company has a quick ratio of 0.89, a current ratio of 1.62 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $381.55 million, a P/E ratio of 22.50, a PEG ratio of 1.29 and a beta of 1.79.

Horizon Global Corporation (NYSE:HZN) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $227.24 million. Horizon Global Corporation had a positive return on equity of 16.58% and a negative net margin of 0.56%. The firm’s revenue for the quarter was up 58.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 earnings per share. analysts forecast that Horizon Global Corporation will post 1.08 EPS for the current fiscal year.

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In other news, CEO A Mark Zeffiro sold 17,130 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.45, for a total transaction 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 approximately $3,919,771.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.27% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Wilen Investment Management CORP. grew its position in shares of Horizon Global Corporation by 3.0% during the 2nd quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after buying an additional 360 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Horizon Global Corporation by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 76,822 shares of the company’s stock worth $1,104,000 after buying an additional 418 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Horizon Global Corporation by 0.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 78,513 shares of the company’s stock worth $1,127,000 after buying an additional 621 shares during the period. Neuberger Berman Group LLC grew its position in shares of Horizon Global Corporation by 1.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 59,308 shares of the company’s stock worth $852,000 after buying an additional 776 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Horizon Global Corporation by 5.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 20,341 shares of the company’s stock worth $292,000 after buying an additional 973 shares during the period. Institutional investors own 92.49% of the company’s stock.

About Horizon Global Corporation

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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