Huntsman (NYSE:HUN) Price Target Cut to $20.00 by Analysts at Royal Bank of Canada

Huntsman (NYSE:HUN) had its price objective decreased by research analysts at Royal Bank of Canada from $23.00 to $20.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.74% from the company’s previous close.

HUN has been the subject of a number of other research reports. Citigroup cut their target price on shares of Huntsman from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group reduced their price target on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price objective on Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Huntsman has an average rating of “Hold” and a consensus price target of $24.14.

Huntsman Stock Down 3.1 %

NYSE HUN traded down $0.56 during trading hours on Thursday, hitting $17.74. The company’s stock had a trading volume of 1,288,786 shares, compared to its average volume of 1,935,214. The company’s 50-day simple moving average is $20.85 and its two-hundred day simple moving average is $21.98. Huntsman has a 52 week low of $17.67 and a 52 week high of $27.01. The company has a market capitalization of $3.07 billion, a PE ratio of -25.71 and a beta of 0.97. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.45.

Huntsman (NYSE:HUN) last posted its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 earnings per share. Research analysts anticipate that Huntsman will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Huntsman

In related news, Director Mary C. Beckerle sold 20,201 shares of Huntsman stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total value of $432,705.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Huntsman

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Huntsman during the second quarter valued at approximately $238,000. Allspring Global Investments Holdings LLC grew its position in shares of Huntsman by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,657,819 shares of the basic materials company’s stock worth $151,599,000 after buying an additional 97,082 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Huntsman by 3.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,237 shares of the basic materials company’s stock worth $825,000 after acquiring an additional 1,202 shares in the last quarter. Innealta Capital LLC purchased a new position in Huntsman during the 2nd quarter valued at about $65,000. Finally, Rothschild Investment LLC bought a new stake in Huntsman during the second quarter worth about $213,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

About Huntsman

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.