Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Horizon Global from a hold rating to a strong sell rating in a research report on Saturday, March 2nd. Roth Capital downgraded shares of Horizon Global from a buy rating to a neutral rating and set a $3.00 price target on the stock. in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $4.75.
Shares of Horizon Global stock traded up $0.11 during trading hours on Tuesday, reaching $3.88. The company’s stock had a trading volume of 2,358 shares, compared to its average volume of 131,314. Horizon Global has a one year low of $1.34 and a one year high of $8.50. The company has a market cap of $91.45 million, a P/E ratio of -2.75 and a beta of 2.16.
Horizon Global (NYSE:HZN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.16). Horizon Global had a negative return on equity of 731.99% and a negative net margin of 20.35%. The business had revenue of $209.66 million during the quarter, compared to the consensus estimate of $199.75 million. As a group, equities analysts expect that Horizon Global will post -1.13 EPS for the current year.
In other news, Director Frederick A. Henderson acquired 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $3.01 per share, for a total transaction of $45,150.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $30,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frederick A. Henderson acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of $2.90 per share, for a total transaction of $29,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $29,000. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. California Public Employees Retirement System lifted its position in Horizon Global by 12.7% in the 4th quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock valued at $210,000 after purchasing an additional 16,521 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Horizon Global by 70.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 117,317 shares of the company’s stock valued at $228,000 after purchasing an additional 48,577 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Horizon Global in the 4th quarter valued at about $104,000. Prescott Group Capital Management L.L.C. bought a new stake in Horizon Global in the 4th quarter valued at about $177,000. Finally, Antara Capital LP lifted its position in Horizon Global by 73.9% in the 1st quarter. Antara Capital LP now owns 370,839 shares of the company’s stock valued at $719,000 after purchasing an additional 157,589 shares during the last quarter. Hedge funds and other institutional investors own 50.15% of the company’s stock.
About Horizon Global
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.
Recommended Story: How is net asset value different from market price?
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.