Horizon Global Corporation (HZN) Stock Rating Lowered by Zacks Investment Research
Horizon Global Corporation (NYSE:HZN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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 brokerages also recently issued reports on HZN. BMO Capital Markets reissued a “buy” rating and set a $20.00 price objective on shares of Horizon Global Corporation in a research report on Friday, October 13th. Bank of America Corporation downgraded Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 5th. Roth Capital set a $22.00 price objective on Horizon Global Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded Horizon Global Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.83.
Horizon Global Corporation (NYSE:HZN) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $227.24 million. Horizon Global Corporation had a positive return on equity of 18.66% and a negative net margin of 0.56%. The company’s quarterly revenue was up 58.3% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS.
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In related news, CEO A Mark Zeffiro sold 17,130 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $16.45, for a total transaction of $281,788.50. Following the completion of the sale, the chief executive officer now owns 238,284 shares in the company, valued at $3,919,771.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.27% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Voya Investment Management LLC purchased a new stake in Horizon Global Corporation in the second quarter valued at approximately $159,000. Wilen Investment Management CORP. lifted its stake in Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after buying an additional 360 shares during the last quarter. Sei Investments Co. lifted its stake in Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after buying an additional 4,561 shares during the last quarter. American International Group Inc. lifted its stake in Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock valued at $183,000 after buying an additional 2,700 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Horizon Global Corporation in the second quarter valued at approximately $186,000. Institutional investors own 92.49% of the company’s stock.
Horizon Global Corporation 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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