Bank of America Forecasts Strong Price Appreciation for Huntsman (NYSE:HUN) Stock

Huntsman (NYSE:HUN) had its target price increased by investment analysts at Bank of America from $10.00 to $11.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the basic materials company’s stock. Bank of America‘s target price indicates a potential upside of 4.71% from the stock’s current price.

A number of other analysts have also recently commented on HUN. Morgan Stanley boosted their target price on shares of Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a report on Tuesday, May 5th. Wells Fargo & Company lifted their price target on shares of Huntsman from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Huntsman from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, May 6th. Mizuho upgraded shares of Huntsman from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $14.00 in a report on Tuesday, June 16th. Finally, Citigroup raised their target price on shares of Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.83.

Huntsman Stock Down 4.1%

Shares of HUN stock traded down $0.45 during midday trading on Tuesday, reaching $10.51. 3,199,406 shares of the stock were exchanged, compared to its average volume of 6,426,935. Huntsman has a 1 year low of $7.30 and a 1 year high of $16.08. The company’s 50 day moving average is $13.88 and its two-hundred day moving average is $12.62. The company has a current ratio of 1.27, a quick ratio of 0.75 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.84 billion, a PE ratio of -5.46 and a beta of 0.64.

Huntsman (NYSE:HUN) last released its earnings results on Thursday, April 30th. The basic materials company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Huntsman had a negative return on equity of 4.60% and a negative net margin of 5.83%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) EPS. On average, equities research analysts predict that Huntsman will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Huntsman

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its position in Huntsman by 20.8% in the 1st quarter. NewEdge Advisors LLC now owns 56,481 shares of the basic materials company’s stock valued at $892,000 after acquiring an additional 9,720 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Huntsman by 97.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,137,285 shares of the basic materials company’s stock valued at $33,748,000 after purchasing an additional 1,052,127 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Huntsman by 0.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 599,296 shares of the basic materials company’s stock valued at $9,463,000 after buying an additional 1,581 shares during the last quarter. Focus Partners Wealth bought a new stake in Huntsman in the 1st quarter worth about $680,000. Finally, Prudential Financial Inc. increased its holdings in Huntsman by 34.5% in the 2nd quarter. Prudential Financial Inc. now owns 14,250 shares of the basic materials company’s stock worth $148,000 after buying an additional 3,655 shares in the last quarter. Hedge funds and other institutional investors own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.