Huntsman (HUN) PT Lowered to $22.00
Huntsman (NYSE:HUN) had its target price reduced by investment analysts at Barclays from $29.00 to $22.00 in a research report issued on Thursday. The brokerage currently has an “underweight” rating on the basic materials company’s stock. Barclays’ price target suggests a potential downside of 6.10% from the stock’s previous close.
Several other brokerages have also recently weighed in on HUN. Zacks Investment Research cut Huntsman from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Royal Bank of Canada restated a “buy” rating and set a $38.00 price objective on shares of Huntsman in a research note on Wednesday, August 1st. Citigroup cut Huntsman from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $30.00 in a research note on Monday, October 1st. Seaport Global Securities initiated coverage on Huntsman in a research note on Friday, August 24th. They set a “buy” rating on the stock. Finally, Nomura dropped their price objective on Huntsman from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.58.
NYSE:HUN traded up $0.15 during trading hours on Thursday, hitting $23.43. 5,392,975 shares of the company traded hands, compared to its average volume of 4,134,988. The company has a current ratio of 1.88, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. Huntsman has a one year low of $19.26 and a one year high of $36.09. The stock has a market cap of $5.58 billion, a PE ratio of 6.56, a price-to-earnings-growth ratio of 0.80 and a beta of 2.67.
Huntsman (NYSE:HUN) last issued its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.02. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the business earned $0.67 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Huntsman will post 3.42 earnings per share for the current fiscal year.
In other Huntsman news, VP David M. Stryker bought 1,282 shares of the stock in a transaction dated Wednesday, October 31st. The shares were bought at an average cost of $21.55 per share, for a total transaction of $27,627.10. Following the purchase, the vice president now directly owns 122,852 shares of the company’s stock, valued at approximately $2,647,460.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sean Douglas bought 7,500 shares of the stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average price of $21.47 per share, for a total transaction of $161,025.00. Following the completion of the purchase, the chief financial officer now directly owns 77,595 shares in the company, valued at $1,665,964.65. The disclosure for this purchase can be found here. Insiders own 19.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUN. FTB Advisors Inc. purchased a new stake in Huntsman in the 2nd quarter worth about $114,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Huntsman in the 2nd quarter worth about $122,000. Willingdon Wealth Management purchased a new stake in Huntsman in the 3rd quarter worth about $118,000. Stratos Wealth Partners LTD. purchased a new stake in Huntsman in the 3rd quarter worth about $177,000. Finally, Point72 Hong Kong Ltd increased its holdings in Huntsman by 46.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,038 shares of the basic materials company’s stock worth $206,000 after acquiring an additional 2,235 shares during the last quarter. Institutional investors own 77.47% of the company’s stock.
Huntsman Company Profile
Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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