Citigroup Has Lowered Expectations for Huntsman (NYSE:HUN) Stock Price

Huntsman (NYSE:HUN) had its target price reduced by investment analysts at Citigroup from $22.00 to $19.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. Citigroup’s price objective indicates a potential upside of 6.26% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. UBS Group reduced their target price on Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada upped their price objective on Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company decreased their target price on Huntsman from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $24.14.

Huntsman Stock Down 2.3 %

HUN stock opened at $17.88 on Wednesday. The company has a market cap of $3.09 billion, a PE ratio of -25.91 and a beta of 0.97. The company has a quick ratio of 0.83, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. Huntsman has a 52 week low of $17.67 and a 52 week high of $27.01. The business has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $21.98.

Huntsman (NYSE:HUN) last issued its earnings results on Monday, November 4th. The basic materials company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 EPS. Sell-side analysts anticipate that Huntsman will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Huntsman news, Director Mary C. Beckerle sold 20,201 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total transaction of $432,705.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Huntsman

A number of hedge funds have recently modified their holdings of HUN. AQR Capital Management LLC increased its holdings in Huntsman by 383.0% in the second quarter. AQR Capital Management LLC now owns 1,417,641 shares of the basic materials company’s stock valued at $32,138,000 after purchasing an additional 1,124,113 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Huntsman by 14.2% in the second quarter. First Eagle Investment Management LLC now owns 654,064 shares of the basic materials company’s stock valued at $14,893,000 after buying an additional 81,109 shares during the period. Bank of Montreal Can increased its stake in shares of Huntsman by 152.7% in the third quarter. Bank of Montreal Can now owns 99,405 shares of the basic materials company’s stock valued at $2,440,000 after buying an additional 60,072 shares during the period. Acadian Asset Management LLC raised its position in shares of Huntsman by 97.2% during the second quarter. Acadian Asset Management LLC now owns 413,104 shares of the basic materials company’s stock worth $9,403,000 after acquiring an additional 203,662 shares during the last quarter. Finally, ING Groep NV bought a new stake in Huntsman in the third quarter valued at approximately $5,317,000. Institutional investors and hedge funds 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.