Horizon Global (NYSE:HZN) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Horizon Global (NYSE:HZN) from a hold rating to a buy rating in a research report report published on Thursday, ValuEngine reports.

Separately, Roth Capital reiterated a neutral rating on shares of Horizon Global in a report on Friday, May 24th.

NYSE:HZN traded up $0.12 on Thursday, hitting $4.91. The stock had a trading volume of 59,034 shares, compared to its average volume of 124,059. The firm has a market capitalization of $145.01 million, a PE ratio of -3.56 and a beta of 1.24. The stock has a fifty day moving average price of $4.05. Horizon Global has a 1-year low of $1.34 and a 1-year high of $8.50.

Horizon Global (NYSE:HZN) last posted its earnings results on Thursday, May 9th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.16). The firm 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%. Analysts expect that Horizon Global will post -1.13 earnings per share for the current fiscal year.

In related news, Director Frederick A. Henderson acquired 15,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $3.01 per share, for a total transaction of $45,150.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $30,100. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frederick A. Henderson acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $2.90 per share, for a total transaction of $29,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $29,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 35,000 shares of company stock worth $110,150. Company insiders own 1.90% of the company’s stock.

A hedge fund recently raised its stake in Horizon Global stock. Royce & Associates LP increased its holdings in shares of Horizon Global Corp (NYSE:HZN) by 57.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,689,690 shares of the company’s stock after buying an additional 614,364 shares during the period. Royce & Associates LP owned about 6.69% of Horizon Global worth $3,278,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.87% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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