ValuEngine Upgrades Horizon Global (HZN) to “Buy”

ValuEngine upgraded shares of Horizon Global (NYSE:HZN) from a hold rating to a buy rating in a research note published on Monday, April 1st, ValuEngine reports.

Separately, Zacks Investment Research lowered Horizon Global from a hold rating to a strong sell rating in a report on Saturday, March 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Horizon Global currently has a consensus rating of Hold and a consensus target price of $7.25.

Horizon Global stock traded up $0.13 during midday trading on Monday, hitting $2.83. 167,747 shares of the company were exchanged, compared to its average volume of 293,777. Horizon Global has a fifty-two week low of $1.34 and a fifty-two week high of $8.50. The firm has a market capitalization of $68.57 million, a PE ratio of -2.05 and a beta of 1.94.

Horizon Global (NYSE:HZN) last issued its quarterly earnings results on Monday, March 18th. The company reported ($1.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.54). Horizon Global had a negative net margin of 24.00% and a negative return on equity of 731.99%. The firm had revenue of $171.96 million during the quarter, compared to the consensus estimate of $187.26 million. On average, sell-side analysts anticipate that Horizon Global will post -0.42 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP bought a new stake in shares of Horizon Global in the 4th quarter worth approximately $1,538,000. California Public Employees Retirement System raised its holdings in shares of Horizon Global by 12.7% in the 4th quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock worth $210,000 after buying an additional 16,521 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in shares of Horizon Global in the 4th quarter worth approximately $177,000. Finally, GSA Capital Partners LLP acquired a new stake in Horizon Global during the 4th quarter valued at $104,000. Institutional investors own 52.76% of the company’s stock.

Horizon Global Company Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.

Recommended Story: Market Capitalization in the Stock Market

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.