Huntsman (NYSE:HUN) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $26.00 target price on the basic materials company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 17.06% from the company’s current price.
Several other equities research analysts have also recently weighed in on HUN. Barclays raised shares of Huntsman from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $18.00 to $23.00 in a research report on Monday. Goldman Sachs Group upped their price objective on shares of Huntsman from $21.00 to $25.00 and gave the stock a “conviction-buy” rating in a research report on Monday, August 31st. Alembic Global Advisors reaffirmed a “buy” rating and set a $22.00 price objective on shares of Huntsman in a research report on Tuesday, July 28th. Truist upped their price objective on shares of Huntsman from $25.00 to $26.00 in a research report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. boosted their target price on Huntsman from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.17.
HUN opened at $22.21 on Tuesday. Huntsman has a twelve month low of $12.23 and a twelve month high of $24.90. The company has a 50-day simple moving average of $22.01 and a 200 day simple moving average of $18.27. The company has a quick ratio of 1.09, a current ratio of 1.53 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 5.11, a P/E/G ratio of 7.83 and a beta of 2.08.
Huntsman (NYSE:HUN) last posted its quarterly earnings data on Tuesday, July 28th. The basic materials company reported ($0.14) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.06. Huntsman had a net margin of 15.78% and a return on equity of 6.41%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted $0.63 earnings per share. Huntsman’s revenue was down 43.2% compared to the same quarter last year. Sell-side analysts anticipate that Huntsman will post 0.59 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new position in shares of Huntsman in the second quarter valued at approximately $2,032,000. Quadrature Capital Ltd acquired a new position in shares of Huntsman in the second quarter valued at approximately $279,000. Handelsbanken Fonder AB acquired a new position in shares of Huntsman in the second quarter valued at approximately $649,000. ArrowMark Colorado Holdings LLC increased its stake in shares of Huntsman by 7.5% in the second quarter. ArrowMark Colorado Holdings LLC now owns 606,500 shares of the basic materials company’s stock valued at $10,899,000 after buying an additional 42,500 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Huntsman by 39.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,721,771 shares of the basic materials company’s stock valued at $48,911,000 after buying an additional 763,198 shares during the period. 75.43% of the stock is owned by institutional investors.
Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates in four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.
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