Horizon Global Corporation (NYSE:HZN) Updates FY17 Earnings Guidance

Shares of Horizon Global Corporation (NYSE:HZN) saw an uptick in trading volume on Tuesday following a stronger than expected earnings report.

First Manhattan Co. reduced its stake in shares of Horizon Global Corporation (NYSE:HZN) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The value of the company's investment in Horizon Global Corporation went from $8,013,000 to $8,706,000 a change of 8.6% quarter to quarter. On average, equities research analysts predict that Horizon Global Corporation will post $1.09 EPS for the current year. The value of the investment in Horizon Global Corporation went from $513,000 to $639,000 increasing 24.6% for the reporting period. Finally, Roth Capital set a $22.00 price objective on Horizon Global Corporation and gave the company a "buy" rating in a report on Wednesday, August 2nd. 2,366,913 shares changed hands during mid-day trading, an increase of 805% from the previous session's volume of 261,447 shares.The stock last traded at $17.23 and had previously closed at $13.94. Horizon Global Corporation has a 12-month low of $11.80 and a 12-month high of $26.36. Finally, First Manhattan Co. raised its position in shares of Horizon Global Corporation by 12.1% in the first quarter. Capital Fund Management S.A. acquired a new stake in shares of Horizon Global Corporation during the first quarter worth $149,000.

Stocks of Horizon Global Corporation (NYSE:HZN) transacted up 0.33% through out intraday market trading on Early Thur, reaching $17.99. Dimensional Fund Advisors LP now owns 801,752 shares of the company's stock worth $19,242,000 after buying an additional 158,373 shares during the period.

Horizon Global Corporation published that its board has approved a share buyback plan on early Wed, May 3rd that permits The corporation to repurchase 1,500,000 Stocks. The firm had revenue of $253.60 million during the quarter, compared to analysts' expectations of $241.08 million. American International Group Inc. now owns 13,190 shares of the company's stock valued at $183,000 after buying an additional 2,700 shares during the period. USA Financial Portformulas bought a fresh stake in Horizon Global Corporation throughout the Q4 valued about $257,000. Institutional investors and hedge funds own 92.34% of the company's stock. This repurchase authorization allows the company to buy shares of its stock through open market purchases.

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Horizon Global Corporation declared that its board has authorized a stock buyback program on Wednesday, May 3rd that allows the company to repurchase 1,500,000 shares. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

The stock's 50 day moving average is 15.02 and its 200 day moving average is 15.42. "Sells 14,305 Shares of Horizon Global Corporation (HZN)" was first posted by BNB Daily and is owned by of BNB Daily. If you are viewing this report on another site, it was stolen and reposted in violation of United States and global trademark and copyright law. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of US and worldwide trademark and copyright law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/08/12/diamond-hill-capital-management-inc-maintains-position-in-horizon-global-corporation-nysehzn-updated.html. BMO Capital Markets restated a "buy" rating and issued a $18.00 price target on shares of Horizon Global Corporation in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. The corporation has a average recommendation of "Buy" and an average price objective of $20.29.

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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