Royal Bank of Canada Raises Huntsman (NYSE:HUN) Price Target to $24.00

Huntsman (NYSE:HUN) had its target price upped by equities research analysts at Royal Bank of Canada from $21.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 0.25% from the company’s current price.

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

Huntsman Price Performance

NYSE:HUN opened at $23.94 on Friday. The company has a market capitalization of $4.14 billion, a P/E ratio of -46.04 and a beta of 1.00. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 0.40. Huntsman has a 52 week low of $19.91 and a 52 week high of $27.01. The stock’s fifty day moving average is $22.13 and its two-hundred day moving average is $23.35.

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

Hedge Funds Weigh In On Huntsman

Institutional investors and hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Huntsman by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 665,652 shares of the basic materials company’s stock worth $17,327,000 after acquiring an additional 130,614 shares during the last quarter. Diversified Trust Co acquired a new position in shares of Huntsman during the second quarter worth $2,180,000. Acadian Asset Management LLC increased its holdings in Huntsman by 1,052.7% in the first quarter. Acadian Asset Management LLC now owns 209,442 shares of the basic materials company’s stock valued at $5,449,000 after buying an additional 191,272 shares during the last quarter. 1832 Asset Management L.P. raised its stake in Huntsman by 753.2% in the first quarter. 1832 Asset Management L.P. now owns 2,867,920 shares of the basic materials company’s stock valued at $74,652,000 after buying an additional 2,531,800 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Huntsman during the 1st quarter worth about $1,428,000. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Company Profile

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.