Barclays Cuts Huntsman (HUN) Price Target to $22.00

Huntsman (NYSE:HUN) had its target price cut by Barclays from $29.00 to $22.00 in a research note released on Thursday morning. They currently have an underweight rating on the basic materials company’s stock.

Several other equities analysts also recently commented on the company. ValuEngine downgraded Huntsman from a hold rating to a sell rating in a research report on Saturday, September 1st. Citigroup cut Huntsman from a buy rating to a neutral rating and cut their price target for the company from $43.00 to $30.00 in a research note on Monday, October 1st. Morgan Stanley assumed coverage on Huntsman in a research note on Tuesday, September 25th. They issued an equal weight rating and a $30.00 price target for the company. MED reiterated a buy rating on shares of Huntsman in a research note on Monday, September 17th. Finally, Seaport Global Securities assumed coverage on Huntsman in a research note on Friday, August 24th. They issued a buy rating for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $34.58.

NYSE HUN traded up $0.15 during trading on Thursday, reaching $23.43. 5,392,975 shares of the company’s stock were exchanged, compared to its average volume of 4,134,988. The company has a market cap of $5.58 billion, a PE ratio of 9.45, a price-to-earnings-growth ratio of 0.80 and a beta of 2.67. The company has a quick ratio of 1.58, a current ratio of 1.88 and a debt-to-equity ratio of 0.57. Huntsman has a fifty-two week low of $19.26 and a fifty-two week high of $36.09.

Huntsman (NYSE:HUN) last posted its earnings results on Tuesday, October 30th. The basic materials company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.82 by $0.02. Huntsman had a return on equity of 22.96% and a net margin of 9.88%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that Huntsman will post 3.42 EPS for the current fiscal year.

In other Huntsman news, CFO Sean Douglas purchased 7,500 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was purchased at an average cost of $21.47 per share, for a total transaction of $161,025.00. Following the acquisition, the chief financial officer now owns 77,595 shares in the company, valued at approximately $1,665,964.65. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David M. Stryker purchased 1,282 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of $21.55 per share, with a total value of $27,627.10. Following the completion of the acquisition, the vice president now owns 122,852 shares in the company, valued at approximately $2,647,460.60. The disclosure for this purchase can be found here. Corporate insiders own 19.00% of the company’s stock.

A number of institutional investors have recently modified their holdings of HUN. FTB Advisors Inc. bought a new position in shares of Huntsman during the 2nd quarter worth about $114,000. Willingdon Wealth Management bought a new position in Huntsman in the 3rd quarter valued at about $118,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Huntsman in the 2nd quarter valued at about $122,000. Stratos Wealth Partners LTD. bought a new position in Huntsman in the 3rd quarter valued at about $177,000. Finally, Clear Harbor Asset Management LLC bought a new position in Huntsman in the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 77.47% of the company’s stock.

Huntsman Company Profile

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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