Scotiabank Increases Huntsman (NYSE:HUN) Price Target to $22.00

Huntsman (NYSE:HUN) had its price target hoisted by Scotiabank from $21.00 to $22.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The firm currently has a sector perform rating on the basic materials company’s stock.

A number of other analysts have also recently issued reports on the company. Seaport Global Securities cut Huntsman from a buy rating to a neutral rating in a research report on Friday, June 19th. Barclays cut their price objective on Huntsman from $19.00 to $15.00 and set an underweight rating on the stock in a research note on Monday, May 4th. Vertical Research downgraded Huntsman from a buy rating to a hold rating in a report on Monday, May 4th. Citigroup dropped their price target on shares of Huntsman from $24.00 to $17.00 and set a buy rating on the stock in a research report on Thursday, April 9th. Finally, KeyCorp upped their price objective on shares of Huntsman from $21.00 to $23.00 and gave the stock an overweight rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Huntsman has an average rating of Hold and an average price target of $20.19.

NYSE:HUN opened at $18.50 on Wednesday. The business’s fifty day moving average price is $18.37 and its 200 day moving average price is $18.04. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 4.25, a PEG ratio of 9.19 and a beta of 2.07. The company has a current ratio of 1.53, a quick ratio of 1.56 and a debt-to-equity ratio of 0.58. Huntsman has a 1-year low of $12.23 and a 1-year high of $24.90.

Huntsman (NYSE:HUN) last released its earnings results on Tuesday, July 28th. The basic materials company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Huntsman had a return on equity of 6.41% and a net margin of 15.78%. The business’s revenue for the quarter was down 43.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Equities analysts forecast that Huntsman will post 0.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUN. First Republic Investment Management Inc. increased its stake in Huntsman by 39.7% during the 4th quarter. First Republic Investment Management Inc. now owns 15,623 shares of the basic materials company’s stock worth $377,000 after purchasing an additional 4,440 shares in the last quarter. Man Group plc lifted its position in shares of Huntsman by 114.1% during the 4th quarter. Man Group plc now owns 316,418 shares of the basic materials company’s stock worth $7,645,000 after buying an additional 168,661 shares during the last quarter. Alliancebernstein L.P. grew its position in Huntsman by 131.1% in the fourth quarter. Alliancebernstein L.P. now owns 527,277 shares of the basic materials company’s stock valued at $12,739,000 after acquiring an additional 299,078 shares during the last quarter. Geode Capital Management LLC grew its position in Huntsman by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 3,790,867 shares of the basic materials company’s stock valued at $91,587,000 after acquiring an additional 210,153 shares during the last quarter. Finally, Verus Capital Partners LLC acquired a new position in Huntsman during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 77.63% of the company’s stock.

About Huntsman

Huntsman Corporation 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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