The stock of Horizon Global Corp (NYSE:HZN) hit a new 52-week high and has $32.16 target or 51.00% above today’s $21.30 share price. The 6 months bullish chart indicates low risk for the $390.96M company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $32.16 price target is reached, the company will be worth $199.39M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 154,577 shares traded hands. Horizon Global Corp (NYSE:HZN) has risen 100.65% since March 4, 2016 and is uptrending. It has outperformed by 92.61% 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 $4.96M for 19.72 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 stock of Horizon Global Corp (NYSE:HZN) earned “Buy” rating by Roth Capital on Thursday, October 15. On Tuesday, September 20 the stock rating was initiated by CJS Securities with “Market Outperform”. The rating was initiated by TH Capital on Thursday, October 15 with “Buy”. The rating was upgraded by Seaport Global on Wednesday, March 2 to “Speculative Buy”. The firm has “Outperform” rating given on Wednesday, March 2 by Barrington Research. The stock has “Buy” rating given by Roth Capital on Thursday, November 12.
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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