Horizon North Logistics (HNL) Upgraded by Raymond James to “Market Perform”

Horizon North Logistics (TSE:HNL) was upgraded by investment analysts at Raymond James from an “underperform” rating to a “market perform” rating in a research note issued on Wednesday. The firm currently has a C$2.50 price target on the stock, up from their previous price target of C$2.00. Raymond James’ price target points to a potential downside of 3.10% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial upped their target price on Horizon North Logistics from C$3.50 to C$3.80 and gave the stock an “outperform” rating in a report on Wednesday, October 3rd. AltaCorp Capital reaffirmed an “outperform” rating on shares of Horizon North Logistics in a research note on Thursday, September 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$3.11.

Shares of TSE:HNL traded up C$0.16 during trading on Wednesday, hitting C$2.58. 326,268 shares of the company were exchanged, compared to its average volume of 396,565. Horizon North Logistics has a fifty-two week low of C$1.41 and a fifty-two week high of C$3.27.

Horizon North Logistics (TSE:HNL) last released its quarterly earnings results on Thursday, August 2nd. The company reported C($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of C($0.02). The business had revenue of C$93.60 million during the quarter, compared to the consensus estimate of C$88.00 million. Horizon North Logistics had a negative return on equity of 7.80% and a negative net margin of 7.76%.

In related news, Director Russell Newmark sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of C$3.20, for a total transaction of C$160,000.00.

Horizon North Logistics Company Profile

Horizon North Logistics Inc provides industrial, commercial, and residential products and services in Canada and the United States. The company's Industrial Services division supplies workforce accommodations, camp management services, access solutions, relocatable structures, and maintenance and utilities services.

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