Royal Bank of Canada Cuts Huntsman (NYSE:HUN) Price Target to $20.00

Huntsman (NYSE:HUN) had its target price lowered by investment analysts at Royal Bank of Canada from $23.00 to $20.00 in a report released on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 12.74% from the company’s previous close.

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

Huntsman Price Performance

Shares of Huntsman stock traded down $0.56 during trading on Thursday, hitting $17.74. 1,288,786 shares of the company’s stock traded hands, compared to its average volume of 1,935,214. The firm’s fifty day moving average price is $20.85 and its 200 day moving average price is $21.98. Huntsman has a twelve month low of $17.67 and a twelve month high of $27.01. The company has a market cap of $3.07 billion, a PE ratio of -25.71 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.47 and a quick ratio of 0.83.

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

Insider Activity at Huntsman

In other 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 transaction of $432,705.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntsman

A number of hedge funds have recently made changes to their positions in HUN. Tidal Investments LLC lifted its stake in Huntsman by 84.6% in the third quarter. Tidal Investments LLC now owns 28,098 shares of the basic materials company’s stock valued at $680,000 after buying an additional 12,875 shares during the period. Sanctuary Advisors LLC lifted its position in shares of Huntsman by 15.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 22,281 shares of the basic materials company’s stock valued at $539,000 after acquiring an additional 2,951 shares during the period. Geode Capital Management LLC boosted its stake in Huntsman by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,583,522 shares of the basic materials company’s stock worth $62,538,000 after acquiring an additional 40,330 shares in the last quarter. MidWestOne Financial Group Inc. acquired a new stake in Huntsman in the third quarter worth $203,000. Finally, Harvest Investment Advisors LLC increased its stake in Huntsman by 12.1% in the third quarter. Harvest Investment Advisors LLC now owns 51,656 shares of the basic materials company’s stock valued at $1,250,000 after purchasing an additional 5,575 shares in the last quarter. 84.81% of the stock is currently owned by 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.