Huntsman (NYSE:HUN) Given New $23.00 Price Target at UBS Group

Huntsman (NYSE:HUN) had its price target cut by equities researchers at UBS Group from $26.00 to $23.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s price objective points to a potential upside of 5.07% from the stock’s current price.

Several other brokerages have also recently issued reports on HUN. Royal Bank of Canada increased their target price on Huntsman from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. raised Huntsman from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $22.00 to $27.00 in a research report on Friday, June 7th. Finally, Citigroup reduced their target price on shares of Huntsman from $26.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.90.

Huntsman Stock Performance

HUN stock opened at $21.89 on Tuesday. Huntsman has a 1-year low of $21.41 and a 1-year high of $29.90. The business has a 50-day moving average price of $23.90 and a 200 day moving average price of $24.48. The company has a market capitalization of $3.79 billion, a P/E ratio of -42.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.55 and a quick ratio of 0.98.

Huntsman (NYSE:HUN) last posted its earnings results on Thursday, May 2nd. The basic materials company reported ($0.06) 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 the consensus estimate of $1.47 billion. During the same quarter last year, the firm posted $0.20 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Huntsman will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Huntsman

Several hedge funds and other institutional investors have recently modified their holdings of HUN. Quadrant Capital Group LLC grew its position in Huntsman by 93.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,081 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 521 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Huntsman during the fourth quarter valued at $36,000. Montag A & Associates Inc. acquired a new position in shares of Huntsman in the 4th quarter valued at $45,000. Fidelis Capital Partners LLC acquired a new stake in Huntsman during the 1st quarter worth about $45,000. Finally, Quarry LP acquired a new stake in Huntsman during the 4th quarter worth about $52,000. 84.81% of the stock is owned by hedge funds and other 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.