Wells Fargo & Company Lowers Huntsman (NYSE:HUN) Price Target to $22.00

Huntsman (NYSE:HUN) had its target price lowered by equities researchers at Wells Fargo & Company from $25.00 to $22.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 23.84% from the company’s current price.

HUN has been the topic of several other reports. Alembic Global Advisors lowered Huntsman from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 15th. Citigroup lowered their target price on Huntsman from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. UBS Group lowered their target price on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price on Huntsman from $23.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho lowered their target price on Huntsman from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.63.

Huntsman Stock Performance

Shares of Huntsman stock opened at $17.77 on Wednesday. The business’s fifty day simple moving average is $17.42 and its 200 day simple moving average is $20.12. The firm has a market capitalization of $3.07 billion, a P/E ratio of -16.15 and a beta of 0.95. Huntsman has a 12 month low of $15.67 and a 12 month high of $27.01. 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 issued its quarterly earnings results on Monday, February 17th. The basic materials company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.45 billion. Huntsman had a negative return on equity of 0.39% and a negative net margin of 3.13%. As a group, analysts anticipate that Huntsman will post 0.47 EPS for the current year.

Hedge Funds Weigh In On Huntsman

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its position in Huntsman by 10.3% during the third quarter. Principal Financial Group Inc. now owns 1,342,478 shares of the basic materials company’s stock worth $32,488,000 after buying an additional 124,841 shares in the last quarter. Bank of Montreal Can grew its position in Huntsman by 152.7% during the third quarter. Bank of Montreal Can now owns 99,405 shares of the basic materials company’s stock worth $2,440,000 after buying an additional 60,072 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of Huntsman in the 4th quarter worth about $569,000. ING Groep NV purchased a new position in shares of Huntsman in the 3rd quarter worth about $5,317,000. Finally, Empowered Funds LLC boosted its holdings in shares of Huntsman by 49.9% in the 3rd quarter. Empowered Funds LLC now owns 31,783 shares of the basic materials company’s stock worth $769,000 after purchasing an additional 10,582 shares in the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Company Profile

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.