Wells Fargo & Company Cuts Huntsman (NYSE:HUN) Price Target to $22.00

Huntsman (NYSE:HUN) had its target price lowered by Wells Fargo & Company from $25.00 to $22.00 in a report issued on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the basic materials company’s stock.

Other analysts have also recently issued research reports about the stock. UBS Group cut their target price on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, November 5th. Alembic Global Advisors cut shares of Huntsman from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 15th. Morgan Stanley cut their target price on shares of Huntsman from $24.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Citigroup cut their target price on shares of Huntsman from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Mizuho cut their target price on shares of Huntsman from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.63.

Huntsman Stock Performance

Shares of HUN stock opened at $17.63 on Wednesday. The stock has a market cap of $3.05 billion, a P/E ratio of -16.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.36 and a quick ratio of 0.83. The company has a fifty day moving average price of $17.39 and a two-hundred day moving average price of $20.10. Huntsman has a one year low of $15.67 and a one year high of $27.01.

Huntsman (NYSE:HUN) last announced its quarterly earnings results on Monday, February 17th. The basic materials company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.45 billion. Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. As a group, equities analysts predict that Huntsman will post 0.47 EPS for the current year.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.67%. The ex-dividend date is Friday, March 14th. Huntsman’s dividend payout ratio is currently -90.91%.

Hedge Funds Weigh In On Huntsman

Hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new position in Huntsman in the 4th quarter valued at about $40,000. Quadrant Capital Group LLC increased its holdings in Huntsman by 74.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company’s stock valued at $40,000 after buying an additional 956 shares during the period. True Wealth Design LLC bought a new position in Huntsman in the 3rd quarter valued at about $62,000. Capital Performance Advisors LLP bought a new position in Huntsman in the 3rd quarter valued at about $78,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Huntsman in the 4th quarter valued at about $60,000. 84.81% of the stock is owned by 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.