Horizon Global (NYSE:HZN) Given Neutral Rating at B. Riley

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Horizon Global (NYSE:HZN)‘s stock had its “neutral” rating reissued by investment analysts at B. Riley in a research note issued on Wednesday, Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research upgraded Horizon Global from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Tuesday, November 5th. ValuEngine cut Horizon Global from a “buy” rating to a “hold” rating in a report on Wednesday.

NYSE HZN opened at $3.47 on Wednesday. The stock has a market capitalization of $123.31 million, a PE ratio of -2.51 and a beta of 1.33. The business has a 50 day simple moving average of $3.94 and a two-hundred day simple moving average of $3.90. Horizon Global has a 1-year low of $1.34 and a 1-year high of $5.79.

Horizon Global (NYSE:HZN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.47) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($1.56). The business had revenue of $177.85 million during the quarter, compared to analyst estimates of $239.31 million. Equities analysts predict that Horizon Global will post -1.37 EPS for the current fiscal year.

In other Horizon Global news, Director Frederick A. Henderson acquired 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average price of $3.81 per share, for a total transaction of $57,150.00. Following the acquisition, the director now directly owns 84,199 shares in the company, valued at $320,798.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Kennedy acquired 8,944 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $3.99 per share, with a total value of $35,686.56. Following the acquisition, the director now owns 507,952 shares in the company, valued at $2,026,728.48. The disclosure for this purchase can be found here. In the last quarter, insiders bought 85,543 shares of company stock valued at $333,073. Company insiders own 1.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Horizon Global by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after purchasing an additional 19,689 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in Horizon Global by 12.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after purchasing an additional 51,118 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Horizon Global by 13.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after purchasing an additional 404,930 shares in the last quarter. California Public Employees Retirement System raised its position in Horizon Global by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 114,900 shares of the company’s stock valued at $439,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Adirondack Research & Management Inc. bought a new stake in Horizon Global during the 3rd quarter valued at $974,000. Institutional investors own 41.64% 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.

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