Wells Fargo & Company Trims Huntsman (NYSE:HUN) Target Price to $28.00

Huntsman (NYSE:HUN) had its price target cut by analysts at Wells Fargo & Company from $32.00 to $28.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 23.95% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded Huntsman from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $22.00 to $27.00 in a research note on Friday, June 7th. Royal Bank of Canada upped their price target on Huntsman from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 7th. Citigroup cut their price target on Huntsman from $26.00 to $24.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Finally, UBS Group cut their price target on Huntsman from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Huntsman presently has an average rating of “Hold” and an average target price of $26.50.

Huntsman Stock Up 3.2 %

Shares of Huntsman stock traded up $0.69 on Thursday, reaching $22.59. 1,313,277 shares of the company were exchanged, compared to its average volume of 1,904,501. The stock’s 50 day moving average price is $23.90 and its 200-day moving average price is $24.48. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.55 and a quick ratio of 0.98. The company has a market cap of $3.91 billion, a P/E ratio of -43.46 and a beta of 1.01. Huntsman has a 1-year low of $21.41 and a 1-year high of $29.90.

Huntsman (NYSE:HUN) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.47 billion. Huntsman had a positive return on equity of 0.67% and a negative net margin of 1.49%. The company’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 earnings per share. As a group, equities analysts forecast that Huntsman will post 0.4 EPS for the current year.

Institutional Trading of Huntsman

Several large investors have recently bought and sold shares of HUN. Neo Ivy Capital Management acquired a new stake in Huntsman in the third quarter valued at $134,000. Wellington Management Group LLP boosted its stake in shares of Huntsman by 101.9% during the third quarter. Wellington Management Group LLP now owns 1,792,098 shares of the basic materials company’s stock valued at $43,727,000 after acquiring an additional 904,696 shares during the last quarter. Twelve Points Wealth Management LLC boosted its stake in shares of Huntsman by 14.5% during the fourth quarter. Twelve Points Wealth Management LLC now owns 34,403 shares of the basic materials company’s stock valued at $865,000 after acquiring an additional 4,368 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Huntsman by 7.0% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 144,049 shares of the basic materials company’s stock valued at $3,620,000 after acquiring an additional 9,397 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Huntsman during the fourth quarter valued at $295,000. Institutional investors and hedge funds 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.