Roth Capital Analysts Give Horizon Global (NYSE:HZN) a $24.00 Price Target

Horizon Global (NYSE:HZN) has been assigned a $24.00 price target by stock analysts at Roth Capital in a report released on Saturday, December 16th. The brokerage presently has a “buy” rating on the stock. Roth Capital’s price target points to a potential upside of 78.31% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 target price on shares of Horizon Global in a research note on Friday, October 13th. ValuEngine upgraded Horizon Global from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research cut shares of Horizon Global from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Finally, Bank of America cut shares of Horizon Global from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. Horizon Global presently has a consensus rating of “Hold” and an average target price of $20.33.

Horizon Global (NYSE:HZN) traded up $0.38 during mid-day trading on Friday, reaching $13.46. The company’s stock had a trading volume of 238,437 shares, compared to its average volume of 229,592. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.62 and a quick ratio of 0.76. The company has a market capitalization of $337.41 and a PE ratio of -31.30. Horizon Global has a 12 month low of $11.80 and a 12 month high of $22.64.

Horizon Global (NYSE:HZN) last posted its earnings results on Tuesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $227.24 million. Horizon Global had a positive return on equity of 16.58% and a negative net margin of 0.56%. The firm’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. analysts predict that Horizon Global will post 1.08 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dean Investment Associates LLC bought a new stake in shares of Horizon Global during the third quarter valued at about $3,387,000. PEAK6 Investments L.P. bought a new stake in shares of Horizon Global during the third quarter valued at about $233,000. Spitfire Capital LLC raised its stake in shares of Horizon Global by 2.1% during the third quarter. Spitfire Capital LLC now owns 1,093,319 shares of the company’s stock valued at $19,286,000 after purchasing an additional 22,100 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of Horizon Global during the third quarter valued at about $490,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Horizon Global by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,021,346 shares of the company’s stock valued at $18,017,000 after purchasing an additional 29,724 shares in the last quarter. Institutional investors and hedge funds own 90.84% of the company’s stock.

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About Horizon Global

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.

Analyst Recommendations for Horizon Global (NYSE:HZN)

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