Could Horizon Global Corporation (HZN) Decrease Even More? The Stock Formed Bearish Double Bottom Chart Pattern

September 14, 2018 - By Victoria Pittman

Horizon Global Corporation (NYSE:HZN) Logo

The chart of Horizon Global Corporation (HZN) shows a double bottom with $7.78 target or 3.00 % below today’s $8.02 share price. The 6 months chart pattern indicates high risk for the $201.27M company. It was reported on Sep, 14 by Finviz.com. If the $7.78 price target is reached, the company will be worth $6.04 million less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.12% or $0.01 during the last trading session, reaching $8.02. About 4,941 shares traded. Horizon Global Corporation (NYSE:HZN) has declined 55.03% since September 14, 2017 and is downtrending. It has underperformed by 70.65% the S&P500.

Analysts await Horizon Global Corporation (NYSE:HZN) to report earnings on October, 30. They expect $0.12 EPS, down 68.42 % or $0.26 from last year’s $0.38 per share. HZN’s profit will be $3.01 million for 16.71 P/E if the $0.12 EPS becomes a reality. After $0.36 actual EPS reported by Horizon Global Corporation for the previous quarter, Wall Street now forecasts -66.67 % negative EPS growth.

Horizon Global Corporation (NYSE:HZN) Ratings Coverage

Among 4 analysts covering Horizon Global (NYSE:HZN), 3 have Buy rating, 1 Sell and 0 Hold. Therefore 75% are positive. Horizon Global has $12.5 highest and $5 lowest target. $10.25’s average target is 27.81% above currents $8.02 stock price. Horizon Global had 6 analyst reports since April 13, 2018 according to SRatingsIntel. On Wednesday, August 8 the stock rating was upgraded by Roth Capital to “Buy”. On Friday, April 13 the stock rating was initiated by FBR Capital with “Buy”. The firm has “Underperform” rating given on Friday, June 22 by Bank of America. Roth Capital downgraded it to “Hold” rating and $6.5000 target in Friday, May 4 report. FBR Capital maintained Horizon Global Corporation (NYSE:HZN) on Monday, June 25 with “Buy” rating.

Another recent and important Horizon Global Corporation (NYSE:HZN) news was published by Seekingalpha.com which published an article titled: “Unhitch From Horizon Global” on September 11, 2018.

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 $201.27 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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