Horizon Global (HZN) Upgraded at Bank of America

Bank of America upgraded shares of Horizon Global (NYSE:HZN) from an underperform rating to a buy rating in a research report released on Wednesday morning, Marketbeat reports. Bank of America currently has $18.00 price objective on the stock.

A number of other equities analysts have also weighed in on HZN. ValuEngine lowered Horizon Global from a strong-buy rating to a buy rating in a research note on Friday, February 2nd. BMO Capital Markets lowered Horizon Global from an outperform rating to a market perform rating and set a $20.00 price target for the company. in a research note on Tuesday, January 30th. Zacks Investment Research lowered Horizon Global from a hold rating to a sell rating in a research note on Tuesday, January 30th. Roth Capital restated a buy rating and issued a $14.00 price target (down previously from $24.00) on shares of Horizon Global in a research note on Friday, January 26th. Finally, Seaport Global Securities restated a hold rating and issued a $10.00 price target on shares of Horizon Global in a research note on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Horizon Global has a consensus rating of Hold and an average price target of $17.67.

Horizon Global (NYSE:HZN) opened at $8.60 on Wednesday. The firm has a market capitalization of $216.73 and a PE ratio of -20.00. Horizon Global has a 52 week low of $7.69 and a 52 week high of $19.58. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 1.62.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Horizon Global by 1.7% in the 4th quarter. BlackRock Inc. now owns 1,546,801 shares of the company’s stock valued at $21,686,000 after purchasing an additional 25,400 shares in the last quarter. Spitfire Capital LLC increased its stake in Horizon Global by 2.1% during the 3rd quarter. Spitfire Capital LLC now owns 1,093,319 shares of the company’s stock worth $19,286,000 after buying an additional 22,100 shares in the last quarter. Northpointe Capital LLC increased its stake in Horizon Global by 25.9% during the 4th quarter. Northpointe Capital LLC now owns 1,070,443 shares of the company’s stock worth $15,008,000 after buying an additional 219,992 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Horizon Global by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,021,346 shares of the company’s stock worth $18,017,000 after buying an additional 29,724 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Horizon Global by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 942,857 shares of the company’s stock worth $13,539,000 after buying an additional 55,411 shares in the last quarter. Hedge funds and other institutional investors own 92.27% of the company’s stock.

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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.

Analyst Recommendations for Horizon Global (NYSE:HZN)

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