Notable Mover: Is Buying 52-Week Stock Like Horizon Global Corp a Winning Strategy?

Notable Mover: Is Buying 52 Week Stock Like Horizon Global Corp a Winning Strategy?

The stock of Horizon Global Corp (NYSE:HZN) hit a new 52-week high and has $61.27 target or 176.00% above today’s $22.20 share price. The 8 months bullish chart indicates low risk for the $485.35M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $61.27 price target is reached, the company will be worth $854.22 million 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 250,742 shares traded hands or 17.60% up from the average. Horizon Global Corp (NYSE:HZN) has risen 70.34% since April 11, 2016 and is uptrending. It has outperformed by 64.20% 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. The stock of Horizon Global Corp (NYSE:HZN) has “Outperform” rating given on Wednesday, March 2 by Barrington Research. The firm has “Buy” rating given on Thursday, November 12 by Roth Capital. The rating was initiated by TH Capital on Thursday, October 15 with “Buy”. CJS Securities initiated Horizon Global Corp (NYSE:HZN) on Tuesday, September 20 with “Market Outperform” rating. The stock of Horizon Global Corp (NYSE:HZN) earned “Buy” rating by Roth Capital on Thursday, October 15. Seaport Global upgraded Horizon Global Corp (NYSE:HZN) rating on Wednesday, March 2. Seaport Global has “Speculative Buy” rating and $13 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: Seekingalpha.com which released: “Horizon Global Corp’s (HZN) CEO Mark Zeffiro on Q3 2016 Results – Earnings …” on November 09, 2016, also Crainsdetroit.com published article titled: “Troy-based Horizon Global Corp. acquires rival towing companies”, Fool.com published: “Horizon Global Corp.’s Revenue and Profits Fall, but Bullish Guidance Saves …” on November 03, 2016. More interesting news about Horizon Global Corp (NYSE:HZN) was released by: Fool.com and their article: “Horizon Global Corp.’s Margin Gains Cause Profits to Surge” with publication date: August 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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