Shares of Horizon Global Corp (NYSE:HZN) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.20.
A number of research analysts recently commented on HZN shares. Zacks Investment Research raised shares of Horizon Global from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, October 10th. ValuEngine raised shares of Horizon Global from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, B. Riley downgraded shares of Horizon Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $10.50 to $3.00 in a report on Friday, November 9th.
Shares of NYSE:HZN traded down $0.07 during trading on Friday, reaching $1.91. The company’s stock had a trading volume of 2,804 shares, compared to its average volume of 374,350. The company has a current ratio of 1.80, a quick ratio of 0.90 and a debt-to-equity ratio of 20.60. Horizon Global has a 12 month low of $1.34 and a 12 month high of $13.61. The company has a market cap of $49.22 million, a price-to-earnings ratio of 1.94 and a beta of 1.34.
In other news, Director Denise Ilitch acquired 20,000 shares of the firm’s stock in a transaction on Monday, November 12th. The stock was acquired at an average price of $2.26 per share, with a total value of $45,200.00. Following the completion of the purchase, the director now directly owns 32,827 shares in the company, valued at $74,189.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Jay Goldbaum acquired 20,220 shares of the firm’s stock in a transaction on Friday, November 9th. The stock was purchased at an average cost of $2.76 per share, with a total value of $55,807.20. Following the purchase, the general counsel now owns 46,464 shares of the company’s stock, valued at $128,240.64. The disclosure for this purchase can be found here. In the last three months, insiders acquired 67,220 shares of company stock valued at $171,037. 1.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in HZN. Paloma Partners Management Co bought a new stake in Horizon Global in the second quarter worth about $684,000. Bank of America Corp DE increased its position in shares of Horizon Global by 14.8% during the second quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock worth $777,000 after acquiring an additional 16,836 shares during the period. Skylands Capital LLC purchased a new position in shares of Horizon Global during the third quarter worth approximately $927,000. Walthausen & Co. LLC purchased a new position in shares of Horizon Global during the third quarter worth approximately $1,152,000. Finally, Millennium Management LLC purchased a new position in shares of Horizon Global during the second quarter worth approximately $1,610,000. 74.94% of the stock is owned by institutional investors and hedge funds.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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