A number of other research firms have also recently weighed in on HZN. Roth Capital cut shares of Horizon Global from a “buy” rating to a “neutral” rating and set a $3.00 target price on the stock. in a research note on Friday, May 10th. Zacks Investment Research cut shares of Horizon Global from a “hold” rating to a “strong sell” rating in a research note on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.75.
HZN opened at $3.62 on Tuesday. 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 cap of $93.59 million, a P/E ratio of -2.62 and a beta of 2.16.
Horizon Global (NYSE:HZN) last released its earnings results on Thursday, May 9th. The company reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.16). Horizon Global had a negative net margin of 20.35% and a negative return on equity of 731.99%. The firm had revenue of $209.66 million for the quarter, compared to analysts’ expectations of $199.75 million. As a group, research analysts expect that Horizon Global will post -0.7 earnings per share for the current year.
In related news, Director Frederick A. Henderson purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were acquired at an average price of $2.90 per share, for a total transaction of $29,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $29,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frederick A. Henderson purchased 15,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $3.01 per share, for a total transaction of $45,150.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $30,100. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System increased 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 during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Horizon Global by 70.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 117,317 shares of the company’s stock worth $228,000 after buying an additional 48,577 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Horizon Global in the 4th quarter worth about $104,000. Prescott Group Capital Management L.L.C. bought a new stake in shares of Horizon Global in the 4th quarter worth about $177,000. Finally, Antara Capital LP increased its holdings in shares of Horizon Global by 73.9% in the 1st quarter. Antara Capital LP now owns 370,839 shares of the company’s stock worth $719,000 after buying an additional 157,589 shares during the last quarter. Institutional investors and hedge funds own 50.15% 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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