Horizon Global (HZN) Trading Down 6.9%

Share on StockTwits

Horizon Global Corp (NYSE:HZN) was down 6.9% during mid-day trading on Wednesday . The stock traded as low as $7.12 and last traded at $7.17. Approximately 508,148 shares were traded during trading, an increase of 35% from the average daily volume of 376,951 shares. The stock had previously closed at $7.70.

Several equities research analysts recently issued reports on HZN shares. Bank of America downgraded shares of Horizon Global from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $10.00 to $5.00 in a research note on Friday, June 22nd. Roth Capital lifted their price target on shares of Horizon Global from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, June 22nd. B. Riley dropped their price target on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating on the stock in a research note on Monday, June 25th. ValuEngine raised shares of Horizon Global from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 27th. Finally, Zacks Investment Research raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.79.

The stock has a market capitalization of $179.94 million, a price-to-earnings ratio of 7.05, a PEG ratio of 14.98 and a beta of 0.92. The company has a current ratio of 1.59, a quick ratio of 0.80 and a debt-to-equity ratio of 20.60.

Horizon Global (NYSE:HZN) last released its earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.15. The company had revenue of $233.34 million during the quarter, compared to the consensus estimate of $232.85 million. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%. On average, sell-side analysts anticipate that Horizon Global Corp will post 0.18 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its position in shares of Horizon Global by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after purchasing an additional 14,173 shares during the last quarter. Bank of America Corp DE increased its position in shares of Horizon Global by 14.8% in the 2nd 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 last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Horizon Global by 20.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after purchasing an additional 19,827 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Horizon Global by 168.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 46,322 shares of the company’s stock valued at $382,000 after buying an additional 29,042 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Horizon Global by 64.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock valued at $494,000 after buying an additional 32,487 shares during the period. 73.65% of the stock is owned by institutional investors.

Horizon Global Company Profile (NYSE:HZN)

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.

Featured Article: Trading Penny Stocks

Receive News & Ratings for Horizon Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Global and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply