Horizon North Logistics (HNL) Trading Up 5.3% After Analyst Upgrade

Horizon North Logistics Inc (TSE:HNL) traded up 5.3% during trading on Wednesday after TD Securities raised their price target on the stock from C$3.00 to C$3.25. TD Securities currently has a buy rating on the stock. Horizon North Logistics traded as high as C$2.40 and last traded at C$2.40. 175,266 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 218,229 shares. The stock had previously closed at C$2.28.

HNL has been the topic of several other research reports. AltaCorp Capital restated an “outperform” rating on shares of Horizon North Logistics in a research note on Wednesday, March 13th. Raymond James restated an “outperform” rating and issued a C$2.50 price target on shares of Horizon North Logistics in a research note on Wednesday, March 13th. Finally, GMP Securities restated a “buy” rating and issued a C$2.50 price target on shares of Horizon North Logistics in a research note on Tuesday, January 8th. Five research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of C$2.94.

In other news, Director Russell Newmark purchased 15,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were bought at an average price of C$1.88 per share, for a total transaction of C$28,200.00. Following the completion of the purchase, the director now owns 855,353 shares of the company’s stock, valued at C$1,608,063.64.

The company has a current ratio of 2.15, a quick ratio of 1.91 and a debt-to-equity ratio of 9.40. The company has a market cap of $397.77 million and a P/E ratio of -45.47.

Horizon North Logistics (TSE:HNL) last posted its quarterly earnings data on Tuesday, March 12th. The company reported C$0.01 EPS for the quarter, meeting the Zacks’ consensus estimate of C$0.01. The company had revenue of C$118.05 million for the quarter, compared to analyst estimates of C$107.29 million. Research analysts expect that Horizon North Logistics Inc will post 0.119999991192661 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, March 28th. Horizon North Logistics’s payout ratio is -150.94%.

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Horizon North Logistics Company Profile (TSE:HNL)

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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