Huntsman (NYSE:HUN) Given New $24.00 Price Target at Citigroup

Huntsman (NYSE:HUN) had its price target lowered by Citigroup from $26.00 to $24.00 in a report issued on Thursday, Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their target price on shares of Huntsman from $24.00 to $26.00 and gave the company a sector perform rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. raised shares of Huntsman from an underweight rating to an overweight rating and increased their price target for the company from $22.00 to $27.00 in a report on Friday, June 7th. Finally, The Goldman Sachs Group increased their price target on shares of Huntsman from $25.00 to $28.00 and gave the company a sell rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $27.00.

Huntsman Stock Performance

NYSE:HUN opened at $22.77 on Thursday. Huntsman has a 1 year low of $22.14 and a 1 year high of $29.90. The firm’s fifty day simple moving average is $24.20 and its 200 day simple moving average is $24.66. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $3.94 billion, a PE ratio of -43.79 and a beta of 1.07.

Huntsman (NYSE:HUN) last posted its earnings results on Thursday, May 2nd. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Huntsman had a negative net margin of 1.49% and a positive return on equity of 0.67%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business posted $0.20 EPS. Huntsman’s revenue was down 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Huntsman will post 0.4 EPS for the current year.

Huntsman Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Friday, June 14th. Huntsman’s payout ratio is -192.31%.

Hedge Funds Weigh In On Huntsman

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC lifted its holdings in Huntsman by 23.5% during the 3rd quarter. HighTower Advisors LLC now owns 11,281 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 2,146 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Huntsman by 67.2% during the 3rd quarter. Hsbc Holdings PLC now owns 68,044 shares of the basic materials company’s stock valued at $1,675,000 after purchasing an additional 27,351 shares during the last quarter. Trexquant Investment LP bought a new position in Huntsman during the 3rd quarter valued at about $2,089,000. Synovus Financial Corp lifted its holdings in Huntsman by 11.9% during the 3rd quarter. Synovus Financial Corp now owns 16,542 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Huntsman during the 3rd quarter valued at about $4,268,000. 84.81% of the stock is owned by institutional investors.

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.