B.Riley FBR analyst Josh Nichols maintained a Hold rating on Horizon Global (HZN) today and set a price target of $2.50. The company’s shares closed on Friday at $2.44, close to its 52-week low of $1.34.
Nichols noted:
“PT) will report 1Q results, before the market open, 5/9 (Dial in 8:30AM ID: 3355276). We model 1Q revenue, EBITDA, and pro forma EPS of $203M, $7.1M, and $(0.41) above consensus of $200M, $2.0M, and $(0.51), respectively. Recall, Horizon successfully amended its Loan, removing certain financial covenants through 3Q19 and allowing for a second lien debt. Furthermore, the company secured $51M Loan, providing additional liquidity to support the company through the 2019 selling season, although management noted that 1Q19 was off to a slower-than-expected start due cold weather.”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 12.4% and a 43.2% 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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Based on Horizon Global’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $46.76 million. In comparison, last year the company had a GAAP net loss of $57.51 million.
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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.
