Horizon North Logistics (HNL) Downgraded to “Market Perform” at Raymond James Financial

Raymond James Financial lowered shares of Horizon North Logistics (TSE:HNL) from an outperform rating to a market perform rating in a report published on Tuesday, January 9th. Raymond James Financial currently has C$1.60 target price on the stock, down from their prior target price of C$2.15.

A number of other research firms have also commented on HNL. Scotiabank set a C$1.50 price objective on shares of Horizon North Logistics and gave the company an underperform rating in a research note on Tuesday, January 9th. Beacon Securities restated a buy rating on shares of Horizon North Logistics in a research note on Wednesday, September 13th. Finally, National Bank Financial lifted their target price on shares of Horizon North Logistics from C$2.20 to C$2.40 and gave the company an outperform rating in a report on Thursday, October 5th.

Shares of Horizon North Logistics (TSE:HNL) traded down C$0.02 during trading hours on Tuesday, reaching C$1.62. 143,166 shares of the company traded hands, compared to its average volume of 215,372. Horizon North Logistics has a 12-month low of C$1.16 and a 12-month high of C$2.12. The firm has a market cap of $235.45, a price-to-earnings ratio of -20.25 and a beta of 1.50.

Horizon North Logistics (TSE:HNL) last posted its quarterly earnings data on Wednesday, November 1st. The company reported C($0.04) EPS for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.01). The business had revenue of C$79.28 million during the quarter, compared to analyst estimates of C$65.28 million. Horizon North Logistics had a negative net margin of 7.76% and a negative return on equity of 7.80%.

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About Horizon North Logistics

Horizon North Logistics Inc (Horizon North) is a Canada-based is a remote resource development service company. The Company provides workforce accommodation solutions, camp management and catering services, and road and access matting solutions. The Company’s segments include Camps & Catering, Matting and Corporate.

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