Citigroup Reiterates Neutral Rating for Huntsman (NYSE:HUN)

Huntsman (NYSE:HUN)‘s stock had its “neutral” rating restated by equities research analysts at Citigroup in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $11.00 price target on the basic materials company’s stock. Citigroup’s target price would suggest a potential upside of 18.34% from the company’s current price.

Other equities research analysts have also issued reports about the company. Mizuho dropped their price target on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. KeyCorp initiated coverage on Huntsman in a research note on Friday. They issued an “overweight” rating and a $14.00 target price for the company. The Goldman Sachs Group set a $12.00 price target on shares of Huntsman in a research report on Thursday, July 16th. Jefferies Financial Group set a $16.00 target price on shares of Huntsman in a research note on Friday, July 31st. Finally, Bank of America increased their price target on shares of Huntsman from $10.00 to $11.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.23.

Huntsman Price Performance

HUN traded down $0.01 on Tuesday, hitting $9.29. 1,324,922 shares of the company’s stock were exchanged, compared to its average volume of 5,457,085. The firm has a 50-day moving average price of $10.60 and a 200-day moving average price of $12.26. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -8.95 and a beta of 0.70. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08.

Insiders Place Their Bets

In other news, CEO Peter R. Huntsman purchased 100,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were bought at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the completion of the purchase, the chief executive officer directly owned 7,256,341 shares of the company’s stock, valued at approximately $71,184,705.21. This trade represents a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Huntsman

A number of institutional investors and hedge funds have recently bought and sold shares of HUN. Deutsche Bank AG acquired a new position in shares of Huntsman in the second quarter valued at approximately $6,773,000. Empowered Funds LLC grew its stake in shares of Huntsman by 794.1% in the first quarter. Empowered Funds LLC now owns 128,864 shares of the basic materials company’s stock worth $1,715,000 after acquiring an additional 114,451 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Huntsman in the first quarter valued at $2,632,000. Kintayl Capital LP purchased a new position in Huntsman in the second quarter valued at $3,800,000. Finally, Old West Investment Management LLC purchased a new stake in Huntsman during the 2nd quarter worth about $1,401,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated chemicals and performance materials. The company supplies products used in construction, automotive, aerospace, electronics, energy, coatings, adhesives, footwear, and other industrial and consumer applications.

Huntsman’s principal offerings include polyurethane systems and polyurethane intermediates, epoxy and other advanced-materials solutions, amines, maleic anhydride, and specialty chemicals. Its materials are used to produce insulation, composites, coatings, adhesives, elastomers, and other products designed to improve durability, energy efficiency, weight, and performance.

Founded in 1970 by Jon M.