Horizon Global (NYSE:HZN) Stock Rating Lowered by Zacks Investment Research

Horizon Global (NYSE:HZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Horizon Global Corporation is a designer, manufacturer and distributor of towing, trailering, cargo management and accessory products for original equipment, aftermarket and retail customers. Horizon Global Corporation is based in Bloomfield Hills, United States. “

HZN has been the topic of a number of other reports. ValuEngine downgraded Horizon Global from a “buy” rating to a “hold” rating in a research report on Wednesday. B. Riley reiterated a “neutral” rating on shares of Horizon Global in a research report on Wednesday.

Horizon Global stock opened at $3.55 on Friday. The stock’s 50 day moving average price is $3.93 and its 200 day moving average price is $3.91. The company has a debt-to-equity ratio of 5.98, a current ratio of 1.56 and a quick ratio of 0.45. The company has a market cap of $95.97 million, a PE ratio of -2.57 and a beta of 1.33. Horizon Global has a 1-year low of $1.34 and a 1-year high of $5.79.

Horizon Global (NYSE:HZN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.47) EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($1.56). The business had revenue of $177.85 million during the quarter, compared to the consensus estimate of $239.31 million. On average, equities research analysts anticipate that Horizon Global will post -2.07 EPS for the current fiscal year.

In related news, Director John C. Kennedy acquired 8,944 shares of Horizon Global stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $35,686.56. Following the completion of the transaction, the director now directly owns 507,952 shares of the company’s stock, valued at $2,026,728.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frederick A. Henderson acquired 15,000 shares of Horizon Global stock in a transaction dated Tuesday, August 20th. The stock was bought at an average price of $3.81 per share, for a total transaction of $57,150.00. Following the completion of the transaction, the director now directly owns 84,199 shares of the company’s stock, valued at $320,798.19. The disclosure for this purchase can be found here. Insiders bought 85,543 shares of company stock worth $333,073 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Several large investors have recently modified their holdings of HZN. Price T Rowe Associates Inc. MD lifted its position in shares of Horizon Global by 13.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after acquiring an additional 404,930 shares in the last quarter. Adirondack Research & Management Inc. acquired a new position in Horizon Global in the third quarter valued at $974,000. D. E. Shaw & Co. Inc. increased its stake in Horizon Global by 12.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after purchasing an additional 51,118 shares during the last quarter. Vanguard Group Inc. increased its stake in Horizon Global by 2.4% in the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after purchasing an additional 19,689 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in Horizon Global by 5.8% in the third quarter. California Public Employees Retirement System now owns 114,900 shares of the company’s stock valued at $439,000 after purchasing an additional 6,300 shares during the last quarter. Institutional investors and hedge funds own 41.64% of the company’s stock.

About Horizon Global

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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