Huntsman (HUN) Rating Lowered to Hold at Zacks Investment Research

Huntsman (NYSE:HUN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Huntsman Corporation is among the world’s largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. “

Other research analysts have also recently issued reports about the stock. Jefferies Group increased their price target on shares of Huntsman to $43.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Tudor Pickering initiated coverage on shares of Huntsman in a report on Friday, January 19th. They set a “buy” rating for the company. ValuEngine cut shares of Huntsman from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 17th. Citigroup increased their price target on shares of Huntsman from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Nomura cut shares of Huntsman from a “buy” rating to a “neutral” rating and cut their price target for the stock from $40.00 to $36.00 in a report on Tuesday, March 20th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Huntsman has an average rating of “Buy” and an average target price of $35.96.

Shares of NYSE:HUN opened at $29.60 on Tuesday. The stock has a market capitalization of $7,529.54, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.35 and a beta of 2.72. Huntsman has a one year low of $23.12 and a one year high of $36.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.83 and a quick ratio of 1.50.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Friday, February 23rd. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.10. The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Huntsman had a net margin of 6.73% and a return on equity of 29.30%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 earnings per share. sell-side analysts predict that Huntsman will post 2.8 EPS for the current year.

Huntsman declared that its Board of Directors has initiated a share buyback plan on Friday, February 23rd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In other Huntsman news, insider Monte G. Edlund sold 2,000 shares of the stock in a transaction dated Saturday, February 17th. The shares were sold at an average price of $21.40, for a total value of $42,800.00. Following the completion of the transaction, the insider now directly owns 52,696 shares of the company’s stock, valued at $1,127,694.40. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Cerebellum GP LLC acquired a new stake in shares of Huntsman in the fourth quarter valued at approximately $128,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Huntsman in the fourth quarter valued at approximately $133,000. American International Group Inc. acquired a new stake in shares of Huntsman in the fourth quarter valued at approximately $149,000. The Manufacturers Life Insurance Company grew its position in shares of Huntsman by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 610 shares during the last quarter. Finally, Jump Trading LLC acquired a new stake in shares of Huntsman in the fourth quarter valued at approximately $205,000. 76.15% of the stock is owned by institutional investors.

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Huntsman Company Profile

Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

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Analyst Recommendations for Huntsman (NYSE:HUN)

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