UBS Group Cuts Huntsman (NYSE:HUN) Price Target to $9.00

Huntsman (NYSE:HUN) had its price target reduced by research analysts at UBS Group from $10.00 to $9.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. UBS Group’s target price would indicate a potential upside of 1.98% from the company’s current price.

Several other research firms have also recently weighed in on HUN. KeyCorp started coverage on shares of Huntsman in a research report on Friday, September 11th. They set an “overweight” rating and a $14.00 price objective for the company. Mizuho lowered their price objective on Huntsman from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Bank of America raised their target price on Huntsman from $10.00 to $11.00 and gave the stock an “underperform” rating in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Huntsman in a research note on Thursday, August 20th. Finally, Weiss Ratings downgraded Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Huntsman currently has an average rating of “Hold” and an average price target of $11.62.

Huntsman Stock Performance

Shares of NYSE HUN traded up $0.29 during trading hours on Monday, reaching $8.82. 2,356,838 shares of the stock were exchanged, compared to its average volume of 5,269,951. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.49 and a beta of 0.80. The stock’s fifty day simple moving average is $9.74 and its 200 day simple moving average is $11.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. Huntsman has a 52 week low of $7.30 and a 52 week high of $16.08.

Insider Activity

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

Hedge Funds Weigh In On Huntsman

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Huntsman in the second quarter worth about $193,750,000. Dimensional Fund Advisors LP boosted its stake in shares of Huntsman by 16.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company’s stock worth $92,509,000 after acquiring an additional 1,003,187 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Huntsman by 1.9% during the first quarter. Pzena Investment Management LLC now owns 5,816,359 shares of the basic materials company’s stock valued at $77,416,000 after purchasing an additional 111,181 shares during the period. Bank of America Corp DE bought a new stake in Huntsman during the 2nd quarter worth approximately $23,596,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Huntsman by 117.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,037,635 shares of the basic materials company’s stock valued at $13,811,000 after buying an additional 559,585 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.

About Huntsman

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.