Royal Bank of Canada Increases Huntsman (NYSE:HUN) Price Target to $26.00

Huntsman (NYSE:HUN) had its price objective boosted by Royal Bank of Canada from $24.00 to $26.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 3.13% from the company’s current price.

Several other equities analysts have also issued reports on HUN. Stifel Nicolaus reduced their target price on Huntsman from $30.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group upped their target price on Huntsman from $25.00 to $28.00 and gave the company a “sell” rating in a report on Tuesday, March 5th. Finally, Wells Fargo & Company upgraded Huntsman from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $25.00 to $32.00 in a research note on Friday, February 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.73.

Huntsman Trading Up 1.7 %

HUN traded up $0.43 during midday trading on Tuesday, hitting $25.21. 209,260 shares of the company were exchanged, compared to its average volume of 1,949,996. The firm has a market capitalization of $4.36 billion, a P/E ratio of -48.42 and a beta of 1.14. Huntsman has a 1-year low of $22.14 and a 1-year high of $29.90. The firm’s 50 day moving average price is $25.10 and its 200-day moving average price is $24.69. The company has a quick ratio of 1.23, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Huntsman had a positive return on equity of 0.66% and a negative net margin of 1.49%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that Huntsman will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Huntsman

A number of hedge funds and other institutional investors have recently bought and sold shares of HUN. Norges Bank purchased a new stake in Huntsman in the fourth quarter worth about $43,761,000. Victory Capital Management Inc. boosted its holdings in Huntsman by 6,496.8% in the fourth quarter. Victory Capital Management Inc. now owns 1,457,882 shares of the basic materials company’s stock worth $36,637,000 after purchasing an additional 1,435,782 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Huntsman by 75.9% in the fourth quarter. Wellington Management Group LLP now owns 3,151,535 shares of the basic materials company’s stock worth $79,198,000 after purchasing an additional 1,359,437 shares during the last quarter. Invesco Ltd. boosted its holdings in Huntsman by 14.6% in the third quarter. Invesco Ltd. now owns 4,372,034 shares of the basic materials company’s stock worth $106,678,000 after purchasing an additional 556,629 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Huntsman by 644.0% in the fourth quarter. Wells Fargo & Company MN now owns 378,667 shares of the basic materials company’s stock worth $9,516,000 after purchasing an additional 448,270 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

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.