Zacks Investment Research Lowers Horizon Global (HZN) to Hold

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Zacks Investment Research cut shares of Horizon Global (NYSE:HZN) from a buy rating to a hold rating in a report published on Saturday morning.

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. “

Separately, Roth Capital raised Horizon Global from a neutral rating to a buy rating and raised their price target for the company from $6.00 to $13.00 in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $12.79.

Shares of HZN opened at $5.63 on Friday. The firm has a market cap of $140.54 million, a PE ratio of 5.74, a price-to-earnings-growth ratio of 11.70 and a beta of 1.20. 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 has a one year low of $5.13 and a one year high of $14.80.

Horizon Global (NYSE:HZN) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The company had revenue of $233.34 million for the quarter, compared to analyst estimates of $232.85 million. Horizon Global had a positive return on equity of 8.57% and a negative net margin of 15.61%. Sell-side analysts anticipate that Horizon Global will post 0.18 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Horizon Global by 14.8% during the second quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock worth $777,000 after acquiring an additional 16,836 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Horizon Global by 20.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after acquiring an additional 19,827 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Horizon Global by 64.5% during the second quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock worth $494,000 after acquiring an additional 32,487 shares during the period. Weber Alan W grew its holdings in Horizon Global by 46.2% during the second quarter. Weber Alan W now owns 229,570 shares of the company’s stock worth $1,368,000 after acquiring an additional 72,500 shares during the period. Finally, LMR Partners LLP acquired a new position in Horizon Global during the second quarter worth about $447,000. 73.87% of the stock is currently owned by hedge funds and other institutional investors.

About Horizon Global

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.

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