Roth Capital Downgrades Horizon Global (HZN) to Neutral

Roth Capital lowered shares of Horizon Global (NYSE:HZN) from a buy rating to a neutral rating in a research note published on Friday, Briefing.com Automated Import reports. The firm currently has $3.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. ValuEngine upgraded shares of Horizon Global from a hold rating to a buy rating in a research report on Friday, March 1st. Zacks Investment Research cut shares of Horizon Global from a hold rating to a strong sell rating in a research report on Saturday, March 2nd. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Horizon Global presently has an average rating of Sell and a consensus target price of $4.75.

Shares of NYSE HZN opened at $3.26 on Friday. The stock has a market capitalization of $77.80 million, a PE ratio of -2.36 and a beta of 2.16. Horizon Global has a 52 week low of $1.34 and a 52 week high of $8.50.



Horizon Global (NYSE:HZN) last issued its earnings results on Thursday, May 9th. The company reported ($0.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.16). The business had revenue of $209.66 million during the quarter, compared to analyst estimates of $199.75 million. Horizon Global had a negative net margin of 20.35% and a negative return on equity of 731.99%. Sell-side analysts anticipate that Horizon Global will post -0.52 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in HZN. GSA Capital Partners LLP acquired a new stake in Horizon Global during the fourth quarter worth about $104,000. Prescott Group Capital Management L.L.C. acquired a new stake in Horizon Global during the fourth quarter worth about $177,000. California Public Employees Retirement System increased its position in Horizon Global by 12.7% during the fourth quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock worth $210,000 after purchasing an additional 16,521 shares during the last quarter. Finally, Royce & Associates LP acquired a new stake in Horizon Global during the fourth quarter worth about $1,538,000. Hedge funds and other institutional investors own 50.57% 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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