Horizon Global (HZN) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Horizon Global (NYSE:HZN) from a sell rating to a hold rating in a research report report published on Monday.
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. “
A number of other research analysts have also recently weighed in on the stock. Bank of America cut shares of Horizon Global from a neutral rating to an underperform rating in a research note on Tuesday, September 5th. BMO Capital Markets restated a buy rating and set a $20.00 target price on shares of Horizon Global in a research note on Friday, October 13th. ValuEngine upgraded shares of Horizon Global from a hold rating to a buy rating in a research note on Friday, December 1st. Finally, Roth Capital set a $24.00 price target on shares of Horizon Global and gave the company a buy rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $20.33.
Horizon Global (NYSE:HZN) last released its earnings results on Tuesday, October 31st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Horizon Global had a negative net margin of 0.56% and a positive return on equity of 16.58%. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $227.24 million. During the same quarter in the previous year, the company earned $0.30 EPS. Horizon Global’s revenue for the quarter was up 58.3% on a year-over-year basis. research analysts expect that Horizon Global will post 1.08 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Voya Investment Management LLC bought a new stake in Horizon Global in the 2nd quarter valued at $159,000. Wilen Investment Management CORP. increased its holdings in Horizon Global by 3.0% in the 2nd quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after acquiring an additional 360 shares during the last quarter. Sei Investments Co. increased its holdings in Horizon Global by 58.1% in the 2nd quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after acquiring an additional 4,561 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Horizon Global in the 2nd quarter valued at $186,000. Finally, Suntrust Banks Inc. increased its holdings in Horizon Global by 8.4% in the 2nd quarter. Suntrust Banks Inc. now owns 13,206 shares of the company’s stock valued at $188,000 after acquiring an additional 1,025 shares during the last quarter. Institutional investors own 90.84% of the company’s stock.
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Horizon Global 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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