Analysts Set Horizon Global Corp (HZN) Target Price at $10.20

Horizon Global Corp (NYSE:HZN) has been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $10.20.

HZN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded Horizon Global from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, October 10th. ValuEngine upgraded Horizon Global from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, B. Riley cut Horizon Global from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $10.50 to $3.00 in a report on Friday, November 9th.

In other Horizon Global news, General Counsel Jay Goldbaum purchased 20,220 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was bought at an average cost of $2.76 per share, for a total transaction of $55,807.20. Following the completion of the transaction, the general counsel now owns 46,464 shares in the company, valued at $128,240.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denise Ilitch purchased 20,000 shares of the company’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average price of $2.26 per share, with a total value of $45,200.00. Following the completion of the transaction, the director now owns 32,827 shares of the company’s stock, valued at approximately $74,189.02. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 67,220 shares of company stock valued at $171,037. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HZN. Dimensional Fund Advisors LP raised its position in Horizon Global by 12.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,572,752 shares of the company’s stock valued at $9,374,000 after purchasing an additional 170,194 shares in the last quarter. Bank of America Corp DE raised its position 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 valued at $777,000 after purchasing an additional 16,836 shares in the last quarter. Paloma Partners Management Co acquired a new position in Horizon Global during the second quarter valued at approximately $684,000. Sagard Capital Partners Management Corp acquired a new position in Horizon Global during the second quarter valued at approximately $7,230,000. Finally, Millennium Management LLC acquired a new position in Horizon Global during the second quarter valued at approximately $1,610,000. Institutional investors own 74.94% of the company’s stock.

HZN opened at $1.87 on Friday. Horizon Global has a 1 year low of $1.34 and a 1 year high of $13.56. The stock has a market capitalization of $49.22 million, a price-to-earnings ratio of 1.91 and a beta of 1.34. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.90 and a current ratio of 1.80.

Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.20). The company had revenue of $227.80 million during 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%. Horizon Global’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. On average, analysts expect that Horizon Global will post -0.23 EPS for the current fiscal year.

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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