Zacks Investment Research upgraded shares of Horizon Global (NYSE:HZN) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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. “

Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Horizon Global from a hold rating to a buy rating in a research report on Thursday, August 1st. B. Riley set a $3.00 price objective on shares of Horizon Global and gave the company a hold rating in a research report on Friday, August 16th. Finally, Roth Capital restated a neutral rating on shares of Horizon Global in a research report on Friday, May 24th.

HZN opened at $3.99 on Wednesday. Horizon Global has a 1-year low of $1.34 and a 1-year high of $8.50. The firm’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $3.21.

Horizon Global (NYSE:HZN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.07). Horizon Global had a negative return on equity of 731.99% and a negative net margin of 13.54%. The business had revenue of $223.16 million during the quarter, compared to the consensus estimate of $241.23 million. On average, equities analysts anticipate that Horizon Global will post -1.4 EPS for the current year.

In related news, Director John C. Kennedy purchased 61,599 shares of Horizon Global stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $3.90 per share, for a total transaction of $240,236.10. Following the acquisition, the director now owns 799,490 shares in the company, valued at approximately $3,118,011. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick A. Henderson purchased 15,000 shares of Horizon Global stock in a transaction on Tuesday, August 20th. The stock was bought at an average price of $3.81 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the director now owns 84,199 shares in the company, valued at approximately $320,798.19. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. increased its holdings in Horizon Global by 12.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after acquiring an additional 51,118 shares during the last quarter. Vanguard Group Inc. increased its holdings in Horizon Global by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after acquiring an additional 19,689 shares during the last quarter. Royce & Associates LP increased its holdings in Horizon Global by 57.1% in the 1st quarter. Royce & Associates LP now owns 1,689,690 shares of the company’s stock valued at $3,278,000 after acquiring an additional 614,364 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Horizon Global by 13.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after acquiring an additional 404,930 shares during the last quarter. Institutional investors own 41.34% of the company’s stock.

Horizon Global Company Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.

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