Barrington Research Comments on Horizon Global Corp’s FY2019 Earnings (HZN)

Horizon Global Corp (NYSE:HZN) – Barrington Research issued their FY2019 earnings per share (EPS) estimates for Horizon Global in a research note issued on Monday. Barrington Research analyst M. Gall expects that the company will earn $1.80 per share for the year. Barrington Research currently has a “Outperform” rating and a $23.00 target price on the stock.

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

HZN has been the topic of several other reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $20.00 target price on shares of Horizon Global in a research report on Friday, October 13th. Zacks Investment Research lowered Horizon Global from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. ValuEngine raised Horizon Global from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Roth Capital set a $24.00 target price on Horizon Global and gave the stock a “buy” rating in a research report on Saturday, December 16th. Two investment 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 currently has an average rating of “Hold” and a consensus target price of $20.33.

Horizon Global (HZN) traded down $0.09 during mid-day trading on Tuesday, hitting $13.08. The company had a trading volume of 290,067 shares, compared to its average volume of 228,329. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 1.62. The firm has a market cap of $337.41 and a price-to-earnings ratio of -30.42. Horizon Global has a twelve month low of $11.80 and a twelve month high of $22.89.

A number of hedge funds have recently made changes to their positions in the stock. Spitfire Capital LLC boosted its stake in 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 buying an additional 22,100 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 29,724 shares in the last quarter. Vanguard Group Inc. boosted its stake in Horizon Global by 6.2% during the second quarter. Vanguard Group Inc. now owns 942,857 shares of the company’s stock valued at $13,539,000 after buying an additional 55,411 shares in the last quarter. Royal Bank of Canada boosted its stake in Horizon Global by 5.2% during the second quarter. Royal Bank of Canada now owns 912,066 shares of the company’s stock valued at $13,097,000 after buying an additional 44,671 shares in the last quarter. Finally, Walthausen & Co. LLC bought a new position in Horizon Global during the second quarter valued at about $11,654,000. 90.84% of the stock is owned by institutional investors and hedge funds.

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Horizon Global Company Profile

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.

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