Horizon Global Corporation (NYSE:HZN)‘s stock had its “buy” rating reissued by BMO Capital Markets in a research report issued on Thursday, July 13th. They currently have a $18.00 target price on the stock. BMO Capital Markets’ price target would suggest a potential downside of 0.77% from the company’s current price.
HZN has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Thursday, July 6th. TheStreet upgraded shares of Horizon Global Corporation from a “d” rating to a “c-” rating in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.29.
Horizon Global Corporation (NYSE:HZN) opened at 18.14 on Thursday. Horizon Global Corporation has a 12 month low of $11.80 and a 12 month high of $26.36. The stock’s 50 day moving average price is $14.56 and its 200 day moving average price is $15.52. The firm’s market capitalization is $452.34 million.
Horizon Global Corporation (NYSE:HZN) last issued its earnings results on Tuesday, August 1st. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.67 by $0.17. The company had revenue of $253.60 million during the quarter, compared to analysts’ expectations of $241.08 million. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The firm’s revenue was up 51.1% compared to the same quarter last year. On average, analysts forecast that Horizon Global Corporation will post $1.09 earnings per share for the current year.
Horizon Global Corporation declared that its board has authorized a share repurchase plan on Wednesday, May 3rd that allows the company to repurchase 1,500,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northpointe Capital LLC acquired a new position in Horizon Global Corporation during the first quarter worth $11,091,000. GW&K Investment Management LLC purchased a new stake in shares of Horizon Global Corporation during the first quarter valued at approximately $7,858,000. Rutabaga Capital Management LLC MA increased its stake in shares of Horizon Global Corporation by 267.0% in the first quarter. Rutabaga Capital Management LLC MA now owns 740,693 shares of the company’s stock valued at $10,281,000 after buying an additional 538,852 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Horizon Global Corporation by 54.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,271,251 shares of the company’s stock valued at $17,645,000 after buying an additional 446,480 shares in the last quarter. Finally, SG Capital Management LLC purchased a new stake in shares of Horizon Global Corporation during the second quarter valued at approximately $6,330,000. 92.34% of the stock is currently owned by hedge funds and other institutional investors.
Horizon Global Corporation Company Profile
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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