In yesterday’s Wall Street session, Horizon Global Corporation (NYSE:HZN) shares traded at $1.72, unchanged from the previous session.
As of this writing, 1 analysts cover Horizon Global Corporation (NYSE:HZN). The consensus rating among analysts is ‘Sell’. As we calculate the median target price by taking the range between a high of $1.00 and a low of $1.00, we find $1.00. Given the previous closing price of $1.72, this indicates a potential downside of -41.86 percent. HZN stock price is now 178.81% away from the 50-day moving average and -12.69% away from the 200-day moving average. The market capitalization of the company currently stands at $50.84M.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
Brokers who have rated the stock have averaged $1.00 as their price target over the next twelve months.
With the price target reduced from $3.50 to $2, B. Riley FBR Downgraded its rating from Neutral to Sell for Horizon Global Corporation (NYSE: HZN)., while ‘B. Riley FBR’ rates the stock as ‘Neutral’.
In other news, Corre Partners Management, LLC, Director bought 2,505 shares of the company’s stock on May 20. The stock was bought for $5,887 at an average price of $2.35. Upon completion of the transaction, the Director now directly owns 2,442,224 shares in the company, valued at $4.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 20, Director Barrett John Frederick bought 2,505 shares of the business’s stock. A total of $5,887 was incurred on buying the stock at an average price of $2.35. This leaves the insider owning 2,442,224 shares of the company worth $4.2 million. Insiders disposed of 125,164 shares of company stock worth roughly $0.22 million over the past 1 year. A total of 1.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HZN stock. A new stake in Horizon Global Corporation shares was purchased by T. ROWE PRICE INVESTMENT MANAGEMENT, INC. during the first quarter worth $7,846,000. ROYAL BANK OF CANADA invested $1,000 in shares of HZN during the first quarter. In total, there are 44 active investors with 61.20% ownership of the company’s stock.
Wednesday morning saw Horizon Global Corporation (NYSE: HZN) opened at $1.7100. During the past 12 months, Horizon Global Corporation has had a low of $0.30 and a high of $8.75. The fifty day moving average price for HZN is $0.6170 and a two-hundred day moving average price translates $1.9700 for the stock.
The latest earnings results from Horizon Global Corporation (NYSE: HZN) was released for Jun, 2022. According to the Auto Parts Company, earnings per share came in at -$0.48, missing analysts’ expectations of -$0.3 by -0.18. This compares to -$0.10 EPS in the same period last year. The net profit margin was -13.30% and return on equity was 130.80% for HZN. The company reported revenue of $148.97 million for the quarter, compared to $196.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -24.2 percent. For the current quarter, analysts expect HZN to generate $209.05M in revenue.
Horizon Global Corporation(HZN) Company Profile
Horizon Global Corporation engages in the design, manufacture, and distribution of towing, trailering, cargo management, and other related accessory products worldwide. It operates in two segments, Horizon Americas and Horizon Europe-Africa. The company provides towing products, such as hitches/tow bars, fifth wheels, gooseneck hitches, weight distribution systems, brake controllers, wiring harnesses, draw bars, ball mounts, crossbars, security products, and other towing accessories. It also offers trailering products, including brake controllers, jacks, winches, couplers, interior and exterior vehicle lighting, and brake replacement parts. In addition, the company provides cargo management products comprising bike racks, roof cross bar systems, cargo carriers, luggage boxes, car interior protective products, loading ramps, and interior travel organizers. Further, it offers other products consisting of tubular push and sports bars, side steps, skid plates, and oil pans. The company sells its products under the Reese, Draw-Tite, Westfalia, Bulldog, BTM, Fulton, Reese Secure, Reese Explorer, Reese Power Sports, Reese Towpower, ROLA, Tekonsha, WesBar, and Witter Towbar Systems brands. It serves aftermarket, automotive original equipment manufacturers, automotive original equipment servicers, retail, e-commerce, and industrial customers within the agricultural, automotive, construction, horse/livestock, industrial, marine, military, recreational, trailer, and utility markets. The company was incorporated in 2015 and is headquartered in Plymouth, Michigan.
