Huntsman (NYSE:HUN) Price Target Cut to $34.00

Huntsman (NYSE:HUN – Get Rating) had its target price dropped by research analysts at Citigroup from $35.00 to $34.00 in a research report issued on Thursday, The Fly reports. Citigroup’s target price points to a potential upside of 17.57% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Huntsman from $40.00 to $35.00 in a report on Wednesday. StockNews.com cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 15th. Wells Fargo & Company decreased their price objective on shares of Huntsman from $42.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, June 22nd. Bank of America cut shares of Huntsman from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $45.00 to $34.00 in a report on Tuesday, June 14th. Finally, UBS Group cut shares of Huntsman from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Huntsman has an average rating of “Moderate Buy” and a consensus target price of $43.77.

Huntsman Price Performance

Shares of NYSE:HUN opened at $28.92 on Thursday. The firm’s 50 day moving average is $30.29 and its two-hundred day moving average is $34.43. Huntsman has a 52 week low of $24.09 and a 52 week high of $41.65. The firm has a market capitalization of $5.82 billion, a P/E ratio of 4.98, a PEG ratio of 1.12 and a beta of 1.16. The company has a current ratio of 2.12, a quick ratio of 1.23 and a debt-to-equity ratio of 0.35.

Huntsman (NYSE:HUN – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.14 by $0.14. Huntsman had a net margin of 13.45% and a return on equity of 22.23%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the business earned $0.86 earnings per share. Huntsman’s revenue was up 16.7% compared to the same quarter last year. Analysts anticipate that Huntsman will post 4.45 earnings per share for the current year.

Institutional Investors Weigh In On Huntsman

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its position in Huntsman by 729.9% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,548 shares of the basic materials company’s stock worth $171,000 after buying an additional 4,000 shares in the last quarter. Schroder Investment Management Group purchased a new stake in Huntsman in the 4th quarter worth approximately $9,414,000. Verdence Capital Advisors LLC lifted its position in Huntsman by 7.0% in the 1st quarter. Verdence Capital Advisors LLC now owns 10,615 shares of the basic materials company’s stock worth $398,000 after buying an additional 690 shares in the last quarter. Cinctive Capital Management LP bought a new position in shares of Huntsman during the 4th quarter valued at $1,744,000. Finally, Seelaus Asset Management LLC raised its holdings in shares of Huntsman by 68.8% during the 1st quarter. Seelaus Asset Management LLC now owns 18,211 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 7,425 shares in the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

About Huntsman

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Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through 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.