Horizon Global Corporation (NYSE:HZN) had its price target hoisted by equities researchers at BMO Capital Markets from $18.00 to $20.00 in a note issued to investors on Wednesday, August 2nd. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 11.17% from the stock’s current price.
Several other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research lowered shares of Horizon Global Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Finally, TheStreet upgraded shares of Horizon Global Corporation from a “d” rating to a “c-” rating in a report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $20.29.
Shares of Horizon Global Corporation (HZN) opened at 17.99 on Wednesday. The stock’s 50 day moving average is $15.13 and its 200-day moving average is $15.40. Horizon Global Corporation has a 12-month low of $11.80 and a 12-month high of $26.36. The company’s market capitalization is $448.60 million.
Horizon Global Corporation (NYSE:HZN) last released its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.17. The firm had revenue of $253.60 million during the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 51.1% compared to the same quarter last year. Analysts anticipate that Horizon Global Corporation will post $1.09 earnings per share for the current year.
Horizon Global Corporation declared that its board has approved a stock buyback program on Wednesday, May 3rd that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: “BMO Capital Markets Raises Horizon Global Corporation (NYSE:HZN) Price Target to $20.00” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/14/horizon-global-corporation-nysehzn-price-target-raised-to-20-00-updated.html.
A number of hedge funds and other institutional investors have recently bought and sold shares of HZN. Capital Fund Management S.A. bought a new position in Horizon Global Corporation during the first quarter valued at approximately $149,000. Suntrust Banks Inc. bought a new position in Horizon Global Corporation during the first quarter valued at approximately $167,000. Sei Investments Co. increased its position in Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after buying an additional 4,561 shares in the last quarter. Wilen Investment Management CORP. increased its position in Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after buying an additional 360 shares in the last quarter. Finally, American International Group Inc. increased its position in Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock valued at $183,000 after buying an additional 2,700 shares in the last quarter. 93.74% of the stock is currently owned by 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.
Receive News & Ratings for Horizon Global Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Global Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
