Huntsman (NYSE:HUN) Price Target Raised to $11.00

Huntsman (NYSE:HUN) had its target price upped by equities researchers at Barclays from $10.00 to $11.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective points to a potential upside of 12.88% from the stock’s current price.

Several other research analysts also recently issued reports on HUN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $11.00 price target on shares of Huntsman in a report on Thursday, August 20th. KeyCorp assumed coverage on Huntsman in a research report on Friday, September 11th. They set an “overweight” rating and a $14.00 price objective on the stock. Zacks Research cut Huntsman from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Wells Fargo & Company dropped their target price on Huntsman from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Finally, Jefferies Financial Group set a $12.00 price target on Huntsman in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.54.

Huntsman Stock Performance

HUN traded up $0.20 on Wednesday, reaching $9.74. The company had a trading volume of 1,679,201 shares, compared to its average volume of 5,047,862. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The stock has a market cap of $1.71 billion, a P/E ratio of -9.75 and a beta of 0.73. The company’s fifty day moving average is $9.00 and its 200 day moving average is $11.66. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Monday, November 2nd. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts predict that Huntsman will post -0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Huntsman in the second quarter worth approximately $193,750,000. Dimensional Fund Advisors LP raised its holdings in Huntsman by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company’s stock worth $92,509,000 after purchasing an additional 1,003,187 shares during the last quarter. Pzena Investment Management LLC bought a new position in Huntsman during the 2nd quarter worth approximately $54,817,000. Private Management Group Inc. acquired a new position in shares of Huntsman in the 3rd quarter worth approximately $27,935,000. Finally, Bank of America Corp DE acquired a new position in shares of Huntsman in the 2nd quarter worth approximately $23,596,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

Huntsman News Summary

Here are the key news stories impacting Huntsman this week:

• Positive Sentiment: Third-quarter revenue rose 17.6% year over year to $1.72 billion, exceeding analyst expectations of $1.61 billion. Adjusted EPS improved to $0.04 from a loss of $0.03 a year earlier, and adjusted net income was $7 million versus an adjusted loss last year. Huntsman Q3 results
• Neutral Sentiment: Royal Bank of Canada raised its price target to $10 from $9 but maintained a “sector perform” rating, implying only about 2% upside from the quoted share price. RBC price target update
• Negative Sentiment: Adjusted EPS of $0.04 fell short of the $0.07 consensus. Huntsman also reported a GAAP net loss of $18 million, although that was narrower than the $25 million loss a year earlier. The earnings call struck a cautiously optimistic tone amid ongoing headwinds. Earnings call highlights

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman’s principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.