Notable Price Action: Horizon Global Corp Just Reaches Record High?

Notable Price Action: Horizon Global Corp Just Reaches Record High?

The stock of Horizon Global Corp (NYSE:HZN) reached all time high today, Oct, 6 and still has $41.41 target or 97.00% above today’s $21.02 share price. This indicates more upside for the $411.09 million company. This technical setup was reported by Barchart.com. If the $41.41 PT is reached, the company will be worth $398.76 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 59,565 shares traded hands. Horizon Global Corp (NYSE:HZN) has risen 103.62% since March 3, 2016 and is uptrending. It has outperformed by 95.28% the S&P500.

Analysts await Horizon Global Corp (NYSE:HZN) to report earnings on November, 8. They expect $0.27 earnings per share, down 46.00% or $0.23 from last year’s $0.5 per share. HZN’s profit will be $5.28M for 19.46 P/E if the $0.27 EPS becomes a reality. After $0.64 actual earnings per share reported by Horizon Global Corp for the previous quarter, Wall Street now forecasts -57.81% negative EPS growth.

Horizon Global Corp (NYSE:HZN) Ratings Coverage

Out of 6 analysts covering Horizon Global Corporation (NYSE:HZN), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Horizon Global Corporation has been the topic of 7 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was initiated by CJS Securities on Tuesday, September 20 with “Market Outperform”. Roth Capital maintained it with “Buy” rating and $13 target price in Thursday, November 12 report. The stock has “Speculative Buy” rating given by Seaport Global on Wednesday, March 2. TH Capital initiated it with “Buy” rating and $12 target price in Thursday, October 15 report. Roth Capital initiated Horizon Global Corp (NYSE:HZN) rating on Thursday, October 15. Roth Capital has “Buy” rating and $12 price target. Barrington Research upgraded the stock to “Outperform” rating in Wednesday, March 2 report.

According to Zacks Investment Research, “Horizon Global Corporation is a designer, manufacturer and distributor of towing, trailering, cargo management and accessory products for original equipment, aftermarket and retail customers. Horizon Global Corporation is based in Bloomfield Hills, United States.”

More notable recent Horizon Global Corp (NYSE:HZN) news were published by: Crainsdetroit.com which released: “Troy-based Horizon Global Corp. acquires rival towing companies” on August 25, 2016, also Crainsdetroit.com with their article: “Horizon Global completes acquisition of Westfalia-Automotive” published on October 05, 2016, Fool.com published: “Horizon Global Corp.’s Margin Gains Cause Profits to Surge” on August 09, 2016. More interesting news about Horizon Global Corp (NYSE:HZN) were released by: Seekingalpha.com and their article: “Horizon Global completes acquisition of Westfalia” published on October 05, 2016 as well as Streetinsider.com‘s news article titled: “Form 8-K Horizon Global Corp For: Aug 24” with publication date: August 25, 2016.

HZN Company Profile

Horizon Global Corporation, incorporated on January 14, 2015, is a designer, maker and distributor of a range of custom-engineered towing, trailering, cargo management and other related accessory products serving the automotive aftermarket, retail and original equipment (OE) channels. The Firm operates through two divisions: Cequent Americas and Cequent APEA. The Company’s Cequent Americas and Cequent APEA marketed through original equipment manufacturers (OEMs), OE suppliers, retailers and aftermarket clients servicing users in the agricultural, automotive, construction, horse/livestock, industrial, marine, military, recreational, trailer and utility markets. The Company’s products are used in approximately two primary categories across the world, including commercial applications (Work) and recreational activities (Play). The markets in its Work category include agricultural, automotive, construction, fleet, industrial, marine, military, mining and municipalities. The markets in its Play category include equestrian, power sports, recreational vehicle, specialty automotive, truck accessory and other specialty towing applications. The Firm distributes its products through independent installers, warehouse distributors, dealers, OE, retail stores and online retailers.

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