Horizon Global Corporation (NYSE:HZN)‘s stock had its “buy” rating reaffirmed by equities researchers at BMO Capital Markets in a report released on Thursday, July 13th. They presently have a $18.00 price objective on the stock. BMO Capital Markets’ price target indicates a potential upside of 30.34% from the company’s current price.
Other equities analysts have also issued reports about the company. TheStreet raised Horizon Global Corporation from a “d” rating to a “c-” rating in a research report on Friday, May 26th. Zacks Investment Research raised Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, July 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Horizon Global Corporation presently has a consensus rating of “Buy” and a consensus price target of $19.43.
Horizon Global Corporation (NYSE:HZN) traded down 3.43% during mid-day trading on Thursday, hitting $13.81. 491,173 shares of the company were exchanged. Horizon Global Corporation has a 12-month low of $11.80 and a 12-month high of $26.36. The company has a 50 day moving average of $14.50 and a 200 day moving average of $16.02. The stock’s market cap is $353.27 million.
Horizon Global Corporation (NYSE:HZN) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.26. Horizon Global Corporation had a negative net margin of 3.46% and a positive return on equity of 11.48%. The business had revenue of $203.28 million during the quarter, compared to analyst estimates of $204.90 million. On average, equities research analysts expect that Horizon Global Corporation will post $0.98 earnings per share for the current fiscal year.
Horizon Global Corporation announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 3rd that authorizes the company to buyback 1,500,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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In other Horizon Global Corporation news, Director Scott G. Kunselman acquired 2,000 shares of Horizon Global Corporation stock in a transaction on Tuesday, May 9th. The stock was purchased at an average price of $13.97 per share, for a total transaction of $27,940.00. Following the purchase, the director now directly owns 11,160 shares of the company’s stock, valued at $155,905.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. increased its position 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 worth $17,645,000 after buying an additional 446,480 shares during the period. Northpointe Capital LLC acquired a new position in shares of Horizon Global Corporation during the first quarter worth about $11,091,000. First Manhattan Co. increased its position in shares of Horizon Global Corporation by 12.1% in the first quarter. First Manhattan Co. now owns 1,198,083 shares of the company’s stock worth $23,877,000 after buying an additional 129,552 shares during the period. Nationwide Fund Advisors increased its position in Horizon Global Corporation by 253.2% in the first quarter. Nationwide Fund Advisors now owns 41,694 shares of the company’s stock valued at $579,000 after buying an additional 29,889 shares during the last quarter. Finally, Skylands Capital LLC purchased a new position in Horizon Global Corporation during the first quarter valued at $3,665,000. Hedge funds and other institutional investors own 88.68% of the company’s stock.
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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