Huntsman (NYSE:HUN) Stock Price Target Raised at Barclays

Huntsman (NYSE:HUN) had its price objective lifted by Barclays from $10.00 to $11.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the basic materials company’s stock.

Several other brokerages have also recently commented on HUN. Jefferies Financial Group set a $12.00 price target on shares of Huntsman in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $11.00 price objective on shares of Huntsman in a research report on Thursday, August 20th. UBS Group reduced their price objective on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. Citigroup decreased their target price on Huntsman from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Finally, KeyCorp began coverage on Huntsman in a report on Friday, September 11th. They set an “overweight” rating and a $14.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.69.

Huntsman Trading Up 3.8%

NYSE:HUN opened at $9.92 on Wednesday. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The company has a 50 day moving average price of $9.00 and a 200 day moving average price of $11.65. The company has a quick ratio of 0.78, a current ratio of 1.33 and a debt-to-equity ratio of 0.59.

Huntsman (NYSE:HUN) last issued its quarterly earnings data 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). Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. As a group, equities analysts forecast that Huntsman will post -0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Huntsman in the second quarter valued at about $193,750,000. Dimensional Fund Advisors LP grew its position in Huntsman by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company’s stock valued at $92,509,000 after acquiring an additional 1,003,187 shares in the last quarter. Pzena Investment Management LLC purchased a new position in Huntsman in the 2nd quarter valued at about $54,817,000. Private Management Group Inc. acquired a new stake in Huntsman during the 3rd quarter valued at approximately $27,935,000. Finally, Bank of America Corp DE acquired a new stake in Huntsman in the second quarter valued at $23,596,000. 84.81% of the stock is currently owned by institutional investors and hedge funds.

More Huntsman News

Here are the key news stories impacting Huntsman this week:

• Positive Sentiment: Huntsman reported third-quarter revenue of $1.72 billion, up 17.6% year over year and above analyst expectations. The company also swung to adjusted earnings per share of $0.04 from a loss a year earlier. Huntsman Q3 Swings to Adjusted Earnings, Revenue Rises
• Positive Sentiment: Barclays raised its price target to $11 from $10 and kept an equal-weight rating. That target implies more upside than the other revised targets cited in the news. Barclays recommendations
• Neutral Sentiment: UBS, Citigroup and RBC each lifted their targets from $9 to $10, while maintaining neutral or sector-perform ratings. At the cited share price, those targets suggest limited near-term upside and indicate analysts remain cautious. RBC Raises Price Target on Huntsman
• Neutral Sentiment: The earnings call was characterized as cautiously optimistic, but with ongoing headwinds; the available summary did not identify a specific near-term catalyst. Huntsman Earnings Call Signals Improvement Amid Headwinds
• Negative Sentiment: Adjusted EPS of $0.04 fell short of the $0.07 consensus estimate, tempering the positive revenue growth and swing to earnings. Huntsman reports Q3 adjusted EPS below consensus

About Huntsman

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.