Horizon Global Corporation (NYSE:HZN) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of Horizon Global Corporation (NYSE:HZN) from a hold rating to a sell rating in a report issued on Thursday morning.
Several other equities research analysts have also commented on the stock. BMO Capital Markets reaffirmed an outperform rating and issued a $18.00 price target on shares of Horizon Global Corporation in a report on Wednesday, April 12th. TheStreet raised shares of Horizon Global Corporation from a d rating to a c- rating in a report on Friday, May 26th. Finally, Zacks Investment Research lowered shares of Horizon Global Corporation from a buy rating to a hold rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $19.43.
Horizon Global Corporation (NYSE HZN) traded down 1.2638% during trading on Thursday, hitting $13.8132. The stock had a trading volume of 111,890 shares. The firm’s market cap is $353.36 million. Horizon Global Corporation has a 52-week low of $11.80 and a 52-week high of $26.37. The company’s 50 day moving average is $14.27 and its 200 day moving average is $15.66.
Horizon Global Corporation (NYSE:HZN) last posted its quarterly 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. Horizon Global Corporation had a negative net margin of 3.46% and a positive return on equity of 11.48%. The business had revenue of $203.28 million during the quarter, compared to analysts’ expectations of $204.90 million. Equities research analysts forecast that Horizon Global Corporation will post $0.98 earnings per share for the current year.
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Horizon Global Corporation announced that its board has initiated a stock repurchase program on Wednesday, May 3rd that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Scott G. Kunselman bought 2,000 shares of the stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average cost of $13.97 per share, with a total value of $27,940.00. Following the purchase, the director now directly owns 11,160 shares in the company, valued at approximately $155,905.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.27% of the company’s stock.
Several large investors have recently bought and sold shares of HZN. Tocqueville Asset Management L.P. raised its stake in Horizon Global Corporation by 54.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,271,251 shares of the company’s stock valued at $17,645,000 after buying an additional 446,480 shares during the last quarter. First Manhattan Co. raised its stake in Horizon Global Corporation by 12.1% in the first quarter. First Manhattan Co. now owns 1,198,083 shares of the company’s stock valued at $23,877,000 after buying an additional 129,552 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Horizon Global Corporation by 26.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,260 shares of the company’s stock valued at $14,022,000 after buying an additional 208,508 shares during the last quarter. Vanguard Group Inc. raised its stake in Horizon Global Corporation by 24.2% in the first quarter. Vanguard Group Inc. now owns 887,446 shares of the company’s stock valued at $12,318,000 after buying an additional 172,933 shares during the last quarter. Finally, Northpointe Capital LLC purchased a new stake in Horizon Global Corporation during the first quarter valued at about $11,091,000. 88.58% of the stock is currently owned by institutional investors and hedge funds.
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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