Royal Bank Of Canada Forecasts Strong Price Appreciation for Huntsman (NYSE:HUN) Stock

Huntsman (NYSE:HUN) had its price objective increased by Royal Bank Of Canada from $9.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada‘s target price would indicate a potential upside of 2.09% from the stock’s current price.

Several other brokerages have also weighed in on HUN. The Goldman Sachs Group set a $12.00 target price on shares of Huntsman in a research report on Thursday, July 16th. Citigroup reduced their price target on shares of Huntsman from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Wells Fargo & Company decreased their price target on Huntsman from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. KeyCorp initiated coverage on Huntsman in a report on Friday, September 11th. They issued an “overweight” rating and a $14.00 price target on the stock. Finally, Zacks Research downgraded Huntsman from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.46.

Huntsman Price Performance

Huntsman stock traded up $0.24 during midday trading on Wednesday, reaching $9.79. The company’s stock had a trading volume of 759,239 shares, compared to its average volume of 5,043,380. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The stock’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $11.66. The firm has a market capitalization of $1.72 billion, a PE ratio of -9.80 and a beta of 0.73.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Monday, November 2nd. The basic materials company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.61 billion. Huntsman had a negative return on equity of 3.11% and a negative net margin of 2.81%. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same period last year, the company earned ($0.03) earnings per share. On average, equities research analysts forecast that Huntsman will post -0.26 earnings per share for the current year.

Institutional Trading of Huntsman

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in shares of Huntsman by 166.7% during the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,670 shares in the last quarter. Nykredit A S purchased a new stake in Huntsman in the 2nd quarter valued at approximately $32,000. Global Retirement Partners LLC purchased a new stake in Huntsman in the 2nd quarter valued at approximately $45,000. Allworth Financial LP acquired a new stake in Huntsman during the 2nd quarter valued at $52,000. Finally, Essential Partners LLC grew its holdings in Huntsman by 40.3% during the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock valued at $77,000 after buying an additional 1,655 shares during the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman’s principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.