Price Action to Note: Could Horizon Global Corp Change Direction After Making 52-Week High?

Price Action to Note: Could Horizon Global Corp Change Direction After Making 52 Week High?

The stock of Horizon Global Corp (NYSE:HZN) hit a new 52-week high and has $34.69 target or 46.00% above today’s $23.76 share price. The 7 months bullish chart indicates low risk for the $510.98M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $34.69 price target is reached, the company will be worth $235.05M 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. The stock increased 3.21% or $0.74 on November 17, hitting $23.76. About 161,952 shares traded hands. Horizon Global Corp (NYSE:HZN) has risen 81.98% since April 15, 2016 and is uptrending. It has outperformed by 77.35% the S&P500.

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. On Thursday, November 12 the stock rating was maintained by Roth Capital with “Buy”. The firm has “Outperform” rating by Barrington Research given on Wednesday, March 2. The rating was initiated by CJS Securities with “Market Outperform” on Tuesday, September 20. The stock of Horizon Global Corp (NYSE:HZN) has “Buy” rating given on Thursday, October 15 by TH Capital. The stock has “Speculative Buy” rating given by Seaport Global on Wednesday, March 2. Roth Capital initiated Horizon Global Corp (NYSE:HZN) rating on Thursday, October 15. Roth Capital has “Buy” rating and $12 price target.

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 important 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 Fool.com published article titled: “Horizon Global Corp.’s Revenue and Profits Fall, but Bullish Guidance Saves …”, 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) was released by: Seekingalpha.com and their article: “Horizon Global Corp’s (HZN) CEO Mark Zeffiro on Q3 2016 Results – Earnings …” with publication date: November 09, 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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