Huntsman Corporation’s (NYSE:HUN) Buy Rating Reaffirmed at Jefferies Group LLC
Huntsman Corporation (NYSE:HUN)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group LLC in a research note issued on Friday. They presently have a $29.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 7.57% from the stock’s previous close.
HUN has been the subject of a number of other reports. Instinet reissued a “positive” rating and issued a $26.00 target price (up from $25.00) on shares of Huntsman Corporation in a research report on Tuesday, March 28th. BidaskClub raised Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. ValuEngine raised Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Citigroup Inc. raised Huntsman Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.54 to $28.00 in a research report on Monday, April 3rd. Finally, Zacks Investment Research downgraded Huntsman Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Two analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $27.71.
Huntsman Corporation (NYSE:HUN) traded up 1.16% during mid-day trading on Friday, reaching $26.96. The company had a trading volume of 1,321,503 shares. The stock has a 50-day moving average of $24.87 and a 200 day moving average of $22.77. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 18.83 and a beta of 2.81. Huntsman Corporation has a 12-month low of $12.40 and a 12-month high of $28.20.
Huntsman Corporation (NYSE:HUN) last released its earnings results on Wednesday, April 26th. The basic materials company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.19. Huntsman Corporation had a return on equity of 25.96% and a net margin of 3.54%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $0.37 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts expect that Huntsman Corporation will post $2.22 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 13th. Huntsman Corporation’s payout ratio is currently 34.97%.
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In other news, VP Randy W. Wright sold 32,962 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $25.75, for a total value of $848,771.50. Following the completion of the transaction, the vice president now directly owns 69,148 shares of the company’s stock, valued at $1,780,561. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Randy W. Wright sold 56,675 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $25.76, for a total value of $1,459,948.00. Following the completion of the transaction, the vice president now directly owns 66,023 shares of the company’s stock, valued at $1,700,752.48. The disclosure for this sale can be found here. Insiders sold 189,637 shares of company stock valued at $4,860,720 over the last ninety days. Corporate insiders own 19.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Huntsman Corporation during the first quarter valued at about $122,000. World Asset Management Inc acquired a new stake in Huntsman Corporation during the first quarter valued at about $241,000. Asset Management One Co. Ltd. acquired a new stake in Huntsman Corporation during the first quarter valued at about $262,000. Blair William & Co. IL acquired a new stake in Huntsman Corporation during the first quarter valued at about $265,000. Finally, M&T Bank Corp raised its stake in Huntsman Corporation by 2.6% in the first quarter. M&T Bank Corp now owns 11,443 shares of the basic materials company’s stock valued at $282,000 after buying an additional 293 shares in the last quarter. 72.43% of the stock is owned by hedge funds and other institutional investors.
About Huntsman Corporation
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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