Horizon Global Corp. (NYSE:HZN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage presently has a $23.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 12.97% from the company’s current price.
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 analysts have also recently commented on HZN. CJS Securities began coverage on shares of Horizon Global Corp. in a research note on Tuesday, September 20th. They issued a “market outperform” rating and a $23.00 target price for the company. TheStreet raised shares of Horizon Global Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Horizon Global Corp. presently has a consensus rating of “Buy” and a consensus price target of $16.50.
Horizon Global Corp. (NYSE:HZN) opened at 20.36 on Wednesday. Horizon Global Corp. has a 52-week low of $8.04 and a 52-week high of $22.12. The company has a market capitalization of $370.41 million, a price-to-earnings ratio of 26.10 and a beta of 2.25. The firm has a 50 day moving average of $19.18 and a 200-day moving average of $14.10.
Horizon Global Corp. (NYSE:HZN) last released its earnings results on Tuesday, August 9th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.25. The company earned $167.76 million during the quarter, compared to analysts’ expectations of $166.54 million. Horizon Global Corp. had a net margin of 2.40% and a return on equity of 360.31%. Equities analysts expect that Horizon Global Corp. will post $1.09 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Emerald Acquisition Ltd. purchased a new position in Horizon Global Corp. during the second quarter valued at $8,868,000. Spitfire Capital LLC raised its position in Horizon Global Corp. by 6,557.0% in the second quarter. Spitfire Capital LLC now owns 739,796 shares of the company’s stock valued at $8,397,000 after buying an additional 728,683 shares during the period. Loomis Sayles & Co. L P raised its position in Horizon Global Corp. by 54.3% in the second quarter. Loomis Sayles & Co. L P now owns 590,643 shares of the company’s stock valued at $6,704,000 after buying an additional 207,856 shares during the period. JPMorgan Chase & Co. raised its position in Horizon Global Corp. by 155.6% in the second quarter. JPMorgan Chase & Co. now owns 189,060 shares of the company’s stock valued at $2,146,000 after buying an additional 115,100 shares during the period. Finally, Spark Investment Management LLC raised its position in Horizon Global Corp. by 362.8% in the first quarter. Spark Investment Management LLC now owns 135,600 shares of the company’s stock valued at $1,705,000 after buying an additional 106,300 shares during the period. 88.31% of the stock is owned by hedge funds and other institutional investors.
About Horizon Global Corp.
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other related accessory products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through two segments: Cequent Americas and Cequent APEA.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Horizon Global Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Global Corp. and related companies with MarketBeat.com's FREE daily email newsletter.