BidaskClub Upgrades Huntsman Corporation (HUN) to Hold
Huntsman Corporation (NYSE:HUN) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
A number of other brokerages have also weighed in on HUN. Nomura reiterated a “buy” rating and set a $30.00 target price on shares of Huntsman Corporation in a research report on Thursday, April 27th. Zacks Investment Research lowered shares of Huntsman Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Jefferies Group LLC cut their target price on shares of Huntsman Corporation from $29.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, May 22nd. Instinet reiterated a “buy” rating and set a $30.00 target price on shares of Huntsman Corporation in a research report on Sunday, July 9th. Finally, Alembic Global Advisors set a $28.00 target price on shares of Huntsman Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Huntsman Corporation currently has an average rating of “Buy” and a consensus target price of $29.00.
Huntsman Corporation (NYSE HUN) traded up 0.38% during midday trading on Wednesday, reaching $26.67. 2,257,552 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $26.30 and a 200 day moving average price of $24.53. Huntsman Corporation has a 52 week low of $14.16 and a 52 week high of $28.30. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 15.12 and a beta of 2.81.
Huntsman Corporation (NYSE:HUN) last issued its earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.18. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.64 billion. Huntsman Corporation had a net margin of 4.33% and a return on equity of 30.04%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Analysts anticipate that Huntsman Corporation will post $2.24 EPS for the current year.
In other news, VP Randy W. Wright sold 32,962 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were 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 in the company, valued at $1,780,561. The transaction was disclosed in a document filed 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 that occurred on Friday, June 30th. The shares were sold at an average price of $25.76, for a total transaction of $1,459,948.00. Following the completion of the transaction, the vice president now owns 66,023 shares of the company’s stock, valued at $1,700,752.48. The disclosure for this sale can be found here. 19.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Mckinley Capital Management LLC Delaware purchased a new position in Huntsman Corporation during the second quarter worth approximately $106,000. Harvest Fund Management Co. Ltd purchased a new position in Huntsman Corporation during the second quarter worth approximately $109,000. SG Americas Securities LLC purchased a new position in Huntsman Corporation during the first quarter worth approximately $122,000. Opera Trading Capital purchased a new position in Huntsman Corporation during the second quarter worth approximately $129,000. Finally, Bronfman E.L. Rothschild L.P. raised its position in Huntsman Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,385 shares of the basic materials company’s stock worth $139,000 after buying an additional 24 shares during the period. Institutional investors own 75.88% of the company’s stock.
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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