Huntsman (NYSE:HUN) Price Target Raised to $24.00

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

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

Huntsman Stock Performance

Huntsman stock opened at $23.94 on Friday. The stock has a market cap of $4.14 billion, a PE 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 12-month low of $19.91 and a 12-month high of $27.01. The business’s 50-day moving average price is $22.13 and its two-hundred day moving average price is $23.34.

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

Huntsman Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 4.18%. Huntsman’s dividend payout ratio (DPR) is currently -192.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Matrix Trust Co bought a new stake in Huntsman in the third quarter worth approximately $25,000. Fidelis Capital Partners LLC bought a new stake in shares of Huntsman in the 1st quarter valued at $45,000. Quarry LP acquired a new position in shares of Huntsman during the 4th quarter valued at $52,000. GAMMA Investing LLC boosted its stake in Huntsman by 44.0% during the first quarter. GAMMA Investing LLC now owns 2,115 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 646 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in Huntsman by 1,250.0% in the second quarter. nVerses Capital LLC now owns 2,700 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 2,500 shares during the period. 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.