Horizon Global Corp (HZN) Receives $10.20 Consensus Target Price from Brokerages

Shares of Horizon Global Corp (NYSE:HZN) have been given a consensus rating of “Hold” by the eight research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.20.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Horizon Global from a “hold” rating to a “strong sell” rating in a report on Saturday, November 10th. ValuEngine lowered shares of Horizon Global from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Finally, B. Riley lowered shares of Horizon Global from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.50 to $3.00 in a report on Friday, November 9th.

Shares of HZN opened at $1.87 on Friday. The company has a current ratio of 1.80, a quick ratio of 0.90 and a debt-to-equity ratio of 20.60. The firm has a market cap of $49.22 million, a price-to-earnings ratio of 1.91 and a beta of 1.34. Horizon Global has a 12 month low of $1.34 and a 12 month high of $13.56.

Horizon Global (NYSE:HZN) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.20). The firm had revenue of $227.80 million for the quarter, compared to the consensus estimate of $239.28 million. Horizon Global had a negative net margin of 20.37% and a negative return on equity of 2.41%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. As a group, sell-side analysts predict that Horizon Global will post -0.23 EPS for the current year.

In other news, General Counsel Jay Goldbaum acquired 20,220 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was purchased at an average price of $2.76 per share, for a total transaction of $55,807.20. Following the purchase, the general counsel now owns 46,464 shares in the company, valued at approximately $128,240.64. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Denise Ilitch bought 20,000 shares of Horizon Global stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $2.26 per share, with a total value of $45,200.00. Following the completion of the transaction, the director now directly owns 32,827 shares in the company, valued at $74,189.02. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 67,220 shares of company stock valued at $171,037. Company insiders own 1.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Walthausen & Co. LLC bought a new position in Horizon Global in the 3rd quarter worth approximately $1,152,000. Rutabaga Capital Management LLC MA boosted its holdings in Horizon Global by 26.0% in the 3rd quarter. Rutabaga Capital Management LLC MA now owns 941,437 shares of the company’s stock worth $6,712,000 after buying an additional 194,246 shares during the period. Skylands Capital LLC bought a new position in Horizon Global in the 3rd quarter worth approximately $927,000. Millennium Management LLC bought a new position in Horizon Global in the 2nd quarter worth approximately $1,610,000. Finally, Sagard Capital Partners Management Corp bought a new position in Horizon Global in the 2nd quarter worth approximately $7,230,000. 74.94% of the stock is 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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Analyst Recommendations for Horizon Global (NYSE:HZN)

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