Horizon Global (HZN) Shares Down 6.9%

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

A number of research firms have issued reports on HZN. Roth Capital raised shares of Horizon Global from a “neutral” rating to a “buy” rating and boosted their target price for the company from $6.00 to $13.00 in a research note on Wednesday, August 8th. ValuEngine raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Zacks Investment Research raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. B. Riley reduced their target price on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating for the company in a research note on Monday, June 25th. Finally, Bank of America lowered shares of Horizon Global from a “buy” rating to an “underperform” rating and reduced their target price for the company from $10.00 to $5.00 in a research note on Friday, June 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently 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 P/E ratio of 7.05, a PEG ratio of 14.98 and a beta of 0.92. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59.

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

Several hedge funds have recently added to or reduced their stakes in HZN. Schwab Charles Investment Management Inc. raised its position in shares of Horizon Global by 20.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after buying an additional 19,827 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Horizon Global by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,558 shares of the company’s stock worth $11,557,000 after buying an additional 206,467 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Horizon Global by 4.6% during the 1st quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after buying an additional 14,173 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Horizon Global in the 1st quarter worth approximately $460,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Horizon Global in the 1st quarter worth approximately $415,000. Institutional investors own 73.65% of the company’s stock.

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: How Short Selling Works

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