Huntsman (NYSE:HUN) Stock Gets Price Target Increase from Royal Bank Of Canada

Huntsman (NYSE:HUN) had its price objective boosted by equities research analysts at Royal Bank Of Canada from $9.00 to $10.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s price target would suggest a potential upside of 2.09% from the stock’s previous close.

HUN has been the subject of several other reports. UBS Group reduced their target price on Huntsman from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Jefferies Financial Group set a $12.00 price target on Huntsman in a research note on Tuesday. The Goldman Sachs Group set a $12.00 price target on Huntsman in a research report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Huntsman in a research report on Friday. Finally, Citigroup reduced their price objective on Huntsman from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.46.

Huntsman Stock Up 2.6%

Shares of NYSE HUN traded up $0.24 during mid-day trading on Wednesday, reaching $9.79. The company had a trading volume of 759,239 shares, compared to its average volume of 5,043,380. The firm has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $11.66. Huntsman has a 52-week low of $7.30 and a 52-week high of $16.08. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.72 billion, a P/E ratio of -9.80 and a beta of 0.73.

Huntsman (NYSE:HUN) last announced 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 company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned ($0.03) earnings per share. Huntsman’s revenue was up 17.6% on a year-over-year basis. Sell-side analysts predict that Huntsman will post -0.26 earnings per share for the current year.

Institutional Trading of Huntsman

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Huntsman during the second quarter worth about $193,750,000. Dimensional Fund Advisors LP raised its holdings in Huntsman by 16.9% during the first 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 in the last quarter. Pzena Investment Management LLC acquired a new stake in Huntsman in the second quarter valued at about $54,817,000. Bank of America Corp DE acquired a new stake in Huntsman in the second quarter valued at about $23,596,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Huntsman by 117.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,037,635 shares of the basic materials company’s stock valued at $13,811,000 after purchasing an additional 559,585 shares in the last quarter. 84.81% of the stock is 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 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.