Horizon Global Corporation (HZN) Can’t Burn Your Short Portfolio. Just Reaches All-Time Low

April 26, 2018 - By Maria Brooks

Horizon Global Corporation (NYSE:HZN) Logo

The stock of Horizon Global Corporation (NYSE:HZN) reached all time low today, Apr, 26 and still has $6.99 target or 9.00 % below today’s $7.68 share price. This indicates more downside for the $192.07M company. This technical setup was reported by Barchart.com. If the $6.99 PT is reached, the company will be worth $17.29 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only.

The stock decreased 2.78% or $0.22 during the last trading session, reaching $7.68. About 149,488 shares traded. Horizon Global Corporation (NYSE:HZN) has declined 36.53% since April 26, 2017 and is downtrending. It has underperformed by 48.08% the S&P500.

Analysts await Horizon Global Corporation (NYSE:HZN) to report earnings on May, 2. They expect $-0.09 EPS, up 47.06 % or $0.08 from last year’s $-0.17 per share. After $-0.11 actual EPS reported by Horizon Global Corporation for the previous quarter, Wall Street now forecasts -18.18 % EPS growth.

Horizon Global Corporation (NYSE:HZN) Ratings Coverage

Among 8 analysts covering Horizon Global (NYSE:HZN), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Horizon Global had 9 analyst reports since December 15, 2017 according to SRatingsIntel. The rating was maintained by Barrington on Friday, March 9 with “Buy”. The stock of Horizon Global Corporation (NYSE:HZN) earned “Hold” rating by BMO Capital Markets on Monday, January 29. As per Wednesday, February 7, the company rating was upgraded by Bank of America. On Friday, December 15 the stock rating was maintained by Roth Capital with “Buy”. The stock has “Buy” rating by Roth Capital on Friday, January 26. The firm earned “Buy” rating on Friday, April 13 by FBR Capital. Seaport Global maintained Horizon Global Corporation (NYSE:HZN) rating on Thursday, January 25. Seaport Global has “Hold” rating and $10.0 target. The firm earned “Outperform” rating on Tuesday, December 19 by Barrington Research.

Horizon Global Corporation designs, makes, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. The company has market cap of $192.07 million. It operates through three divisions: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. It currently has negative earnings. The firm provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, towbars, security, and other towing accessories for attaching a trailer, camper, etc.

Horizon Global Corporation (NYSE:HZN) Ratings Chart

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