Horizon Global (HZN) Trading Down 6.9%

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

HZN has been the subject of a number of recent analyst reports. Bank of America lowered shares of Horizon Global from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $10.00 to $5.00 in a research note on Friday, June 22nd. Roth Capital increased their target price on shares of Horizon Global from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, June 22nd. B. Riley cut 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 report on Monday, June 25th. ValuEngine upgraded shares of Horizon Global from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 27th. Finally, Zacks Investment Research upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.79.

The firm has a market cap of $178.93 million, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 14.89 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $233.34 million for the quarter, compared to the consensus estimate of $232.85 million. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%. Equities analysts forecast that Horizon Global Corp will post 0.18 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Horizon Global by 4.6% in the 1st quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after acquiring an additional 14,173 shares during the period. Bank of America Corp DE raised its holdings in Horizon Global by 14.8% in the 2nd quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock worth $777,000 after acquiring an additional 16,836 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Horizon Global by 20.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after acquiring an additional 19,827 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in Horizon Global by 168.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 46,322 shares of the company’s stock worth $382,000 after acquiring an additional 29,042 shares during the period. Finally, Segall Bryant & Hamill LLC grew its position in Horizon Global by 64.5% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock worth $494,000 after purchasing an additional 32,487 shares during the last quarter. Institutional investors and hedge funds 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.

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