Citigroup Has Lowered Expectations for Huntsman (NYSE:HUN) Stock Price

Huntsman (NYSE:HUN) had its price target dropped by equities research analysts at Citigroup from $22.00 to $19.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. Citigroup’s price objective would suggest a potential upside of 2.43% from the company’s previous close.

HUN has been the subject of several other research reports. Royal Bank of Canada raised their target price on shares of Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Wells Fargo & Company lowered their target price on shares of Huntsman from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. Finally, UBS Group lowered their target price on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $24.71.

Huntsman Price Performance

Shares of NYSE:HUN traded down $0.01 during midday trading on Wednesday, reaching $18.55. 239,323 shares of the company were exchanged, compared to its average volume of 1,927,439. Huntsman has a one year low of $18.41 and a one year high of $27.01. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average is $21.04 and its two-hundred day moving average is $22.05. The stock has a market cap of $3.21 billion, a PE ratio of -26.88 and a beta of 0.97.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Monday, November 4th. The basic materials company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter last year, the business earned $0.15 earnings per share. Huntsman’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that Huntsman will post 0.09 earnings per share for the current year.

Insider Activity

In related news, Director Mary C. Beckerle sold 20,201 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $21.42, for a total value of $432,705.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Huntsman

A number of large investors have recently modified their holdings of HUN. Tidal Investments LLC boosted its stake in Huntsman by 84.6% in the third quarter. Tidal Investments LLC now owns 28,098 shares of the basic materials company’s stock valued at $680,000 after acquiring an additional 12,875 shares during the period. Sanctuary Advisors LLC raised its position in shares of Huntsman by 15.3% during the third quarter. Sanctuary Advisors LLC now owns 22,281 shares of the basic materials company’s stock valued at $539,000 after buying an additional 2,951 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Huntsman by 1.6% during the third quarter. Geode Capital Management LLC now owns 2,583,522 shares of the basic materials company’s stock valued at $62,538,000 after buying an additional 40,330 shares during the last quarter. MidWestOne Financial Group Inc. acquired a new position in Huntsman in the third quarter worth about $203,000. Finally, Harvest Investment Advisors LLC grew its stake in shares of Huntsman by 12.1% during the third quarter. Harvest Investment Advisors LLC now owns 51,656 shares of the basic materials company’s stock valued at $1,250,000 after purchasing an additional 5,575 shares during the last quarter. 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.