Huntsman (NYSE:HUN) Stock Price Target Cut by Royal Bank Of Canada

Huntsman (NYSE:HUN) had its price objective lowered by stock analysts at Royal Bank Of Canada from $10.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 11.75% from the stock’s previous close.

HUN has been the subject of a number of other reports. KeyCorp initiated coverage on shares of Huntsman in a research report on Friday, September 11th. They set an “overweight” rating and a $14.00 price objective for the company. Jefferies Financial Group cut their price objective on Huntsman from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Bank of America upped their price target on shares of Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research report on Tuesday, June 30th. Citigroup cut their price target on Huntsman from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Finally, The Goldman Sachs Group set a $12.00 target price on Huntsman in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.29.

Huntsman Price Performance

HUN traded down $0.02 during trading on Tuesday, hitting $8.05. 175,069 shares of the stock traded hands, compared to its average volume of 5,193,995. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78. Huntsman has a twelve month low of $7.30 and a twelve month high of $16.08. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -7.75 and a beta of 0.80. The business has a 50 day moving average price of $9.42 and a 200 day moving average price of $11.80.

Insider Buying and Selling

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the acquisition, the chief executive officer owned 7,256,341 shares of the company’s stock, valued at $71,184,705.21. The trade was a 1.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUN. Bank of America Corp DE purchased a new position in Huntsman in the second quarter valued at approximately $23,596,000. Deutsche Bank AG bought a new position in Huntsman in the 2nd quarter worth about $6,773,000. Hsbc Holdings PLC purchased a new position in Huntsman during the second quarter valued at approximately $2,854,000. Kintayl Capital LP bought a new position in shares of Huntsman in the second quarter worth $3,800,000. Finally, Empowered Funds LLC grew its holdings in shares of Huntsman by 794.1% during the first quarter. Empowered Funds LLC now owns 128,864 shares of the basic materials company’s stock worth $1,715,000 after purchasing an additional 114,451 shares in the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.