Horizon Global (HZN) received a Hold rating and a $2.50 price target from B.Riley FBR analyst Josh Nichols today. The company’s shares closed yesterday at $2.73.
Nichols commented:
“PT) reported 1Q results, before the market open, on 5/9. Revenue and EBITDA of $210M/$8.1M beat our and consensus estimates of $203M/ $7.1M and $200M/$2M, respectively. Meanwhile, pro forma EPS of $(0.66) came in below our and consensus projections of $(0.41) and $(0.51), respectively. Despite a slow start to start to the year due to colder-than-expected weather in Americas, Horizon is benefiting from initiatives undertaken as part of its business improvement Action Plan that commenced in 2018. City distribution facility now has the capability in place to adjust production capacity to meet the increased seasonal demand through the upcoming summer selling season (2Q and 3Q).”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.0% and a 42.9% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
The word on The Street in general, suggests a Hold analyst consensus rating for Horizon Global with a $2.50 average price target.
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The company has a one-year high of $8.50 and a one-year low of $1.34. Currently, Horizon Global has an average volume of 196.1K.
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Horizon Global Corp. engages in the design, manufacture, and distribution of custom-engineered towing, trailering, cargo management, and other related accessory products. It operates through the following segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
