Huntsman (HUN) Price Target Cut to $36.00

Huntsman (NYSE:HUN) had its price target lowered by KeyCorp from $42.00 to $36.00 in a research note published on Wednesday, The Fly reports. The firm currently has an overweight rating on the basic materials company’s stock. KeyCorp also issued estimates for Huntsman’s Q4 2018 earnings at $0.59 EPS, FY2018 earnings at $3.40 EPS, FY2019 earnings at $3.20 EPS and FY2020 earnings at $3.75 EPS.

Several other brokerages have also weighed in on HUN. Zacks Investment Research lowered Huntsman from a buy rating to a hold rating in a research report on Tuesday, July 24th. Royal Bank of Canada reiterated a buy rating and issued a $38.00 price objective on shares of Huntsman in a research report on Wednesday, August 1st. Citigroup lowered Huntsman from a buy rating to a neutral rating and lowered their price objective for the stock from $43.00 to $30.00 in a research report on Monday, October 1st. Seaport Global Securities initiated coverage on Huntsman in a research report on Friday, August 24th. They issued a buy rating for the company. Finally, Barclays initiated coverage on Huntsman in a research report on Monday, October 8th. They issued an underweight rating and a $29.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. Huntsman currently has an average rating of Hold and an average price target of $34.58.

Huntsman stock traded up $0.15 during mid-day trading on Wednesday, hitting $23.43. The company’s stock had a trading volume of 5,392,975 shares, compared to its average volume of 4,134,988. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 0.80 and a beta of 2.67. Huntsman has a 1 year low of $19.26 and a 1 year high of $36.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 1.88.

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, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.24 billion. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.67 earnings per share. Analysts forecast that Huntsman will post 3.42 EPS for the current year.

In other news, CFO Sean Douglas purchased 7,500 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average cost 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 of the company’s stock, valued at $1,665,964.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Stryker purchased 1,282 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were purchased at an average price of $21.55 per share, for a total transaction of $27,627.10. Following the completion of the purchase, the vice president now directly owns 122,852 shares of the company’s stock, valued at $2,647,460.60. The disclosure for this purchase can be found here. 19.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HUN. FTB Advisors Inc. acquired a new stake in shares of Huntsman in the second quarter valued at $114,000. Willingdon Wealth Management acquired a new stake in shares of Huntsman in the third quarter valued at $118,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Huntsman in the second quarter valued at $122,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Huntsman in the third quarter valued at $177,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Huntsman in the third quarter valued at $200,000. Institutional investors and hedge funds own 77.47% of the company’s stock.

About Huntsman

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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