Huntsman (NYSE:HUN) PT Raised to $24.00 at Royal Bank of Canada

Huntsman (NYSE:HUN) had its price objective hoisted by Royal Bank of Canada from $21.00 to $24.00 in a report released on Friday, Benzinga reports. The firm currently has a sector perform rating on the basic materials company’s stock.

Several other equities analysts also recently weighed in on HUN. JPMorgan Chase & Co. reduced their price target on Huntsman from $27.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Citigroup dropped their price objective on Huntsman from $26.00 to $24.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Wells Fargo & Company dropped their price objective on Huntsman from $28.00 to $26.00 and set an overweight rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group dropped their price objective on Huntsman from $23.00 to $22.00 and set a neutral rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Huntsman presently has an average rating of Hold and an average price target of $25.89.

Huntsman Price Performance

HUN opened at $23.66 on Friday. The stock has a fifty day simple moving average of $22.18 and a two-hundred day simple moving average of $23.32. The company has a current ratio of 1.30, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -45.50 and a beta of 1.00. Huntsman has a 12-month low of $19.91 and a 12-month high of $27.01.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share for the quarter, meeting the consensus estimate of $0.14. Huntsman had a positive return on equity of 0.26% and a negative net margin of 1.44%. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company earned $0.22 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Research analysts predict that Huntsman will post 0.19 earnings per share for the current fiscal year.

Huntsman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.23%. The ex-dividend date was Friday, September 13th. Huntsman’s dividend payout ratio (DPR) is presently -192.31%.

Institutional Trading of Huntsman

A number of large investors have recently added to or reduced their stakes in HUN. 1832 Asset Management L.P. increased its stake in Huntsman by 753.2% in the 1st quarter. 1832 Asset Management L.P. now owns 2,867,920 shares of the basic materials company’s stock worth $74,652,000 after acquiring an additional 2,531,800 shares during the last quarter. Wellington Management Group LLP increased its stake in Huntsman by 75.9% in the 4th quarter. Wellington Management Group LLP now owns 3,151,535 shares of the basic materials company’s stock worth $79,198,000 after acquiring an additional 1,359,437 shares during the last quarter. AQR Capital Management LLC increased its stake in Huntsman by 383.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,417,641 shares of the basic materials company’s stock worth $32,138,000 after acquiring an additional 1,124,113 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Huntsman by 52.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,358,390 shares of the basic materials company’s stock valued at $53,701,000 after purchasing an additional 811,099 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Huntsman during the 1st quarter valued at approximately $10,523,000. Institutional investors 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.