Huntsman (NYSE:HUN) Trading 10.2% Higher – Here’s What Happened

Shares of Huntsman Corporation (NYSE:HUN) traded up 10.2% on Tuesday . The company traded as high as $12.57 and last traded at $12.6520. 2,884,015 shares were traded during trading, a decline of 41% from the average session volume of 4,854,014 shares. The stock had previously closed at $11.48.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup raised their price objective on Huntsman from $10.50 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Mizuho increased their price target on shares of Huntsman from $7.00 to $8.00 and gave the stock an “underperform” rating in a research report on Thursday, December 18th. Zacks Research raised shares of Huntsman from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada upped their price objective on shares of Huntsman from $10.00 to $13.00 and gave the company a “sector perform” rating in a research note on Friday, January 16th. Finally, Bank of America reissued an “underperform” rating and set a $8.00 target price (down previously from $9.00) on shares of Huntsman in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, Huntsman currently has an average rating of “Reduce” and a consensus price target of $11.00.

Huntsman Price Performance

The company’s 50-day simple moving average is $10.92 and its 200 day simple moving average is $10.03. The company has a market capitalization of $2.30 billion, a P/E ratio of -6.96 and a beta of 0.70. The company has a quick ratio of 0.84, a current ratio of 1.36 and a debt-to-equity ratio of 0.54.

Huntsman (NYSE:HUN) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. Huntsman had a negative net margin of 5.69% and a negative return on equity of 3.26%. Huntsman’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. As a group, sell-side analysts expect that Huntsman Corporation will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC lifted its holdings in Huntsman by 20.8% in the 1st quarter. NewEdge Advisors LLC now owns 56,481 shares of the basic materials company’s stock worth $892,000 after purchasing an additional 9,720 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Huntsman by 97.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,137,285 shares of the basic materials company’s stock valued at $33,748,000 after purchasing an additional 1,052,127 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Huntsman by 0.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 599,296 shares of the basic materials company’s stock worth $9,463,000 after buying an additional 1,581 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Huntsman during the 1st quarter worth $680,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Huntsman by 12.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 148,615 shares of the basic materials company’s stock valued at $1,549,000 after buying an additional 16,099 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.