Brokerages Set Huntsman Corporation (NYSE:HUN) Price Target at $11.00

Huntsman Corporation (NYSE:HUN) has been assigned a consensus rating of “Reduce” from the twelve brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.90.

HUN has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Huntsman from $12.00 to $10.00 and set a “sector perform” rating for the company in a report on Monday, August 4th. Bank of America reaffirmed an “underperform” rating and issued a $8.00 price target (down from $9.00) on shares of Huntsman in a report on Tuesday, October 14th. Jefferies Financial Group decreased their price target on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 10th. The Goldman Sachs Group reduced their target price on shares of Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Friday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Huntsman in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HUN. Yousif Capital Management LLC boosted its stake in Huntsman by 9.7% during the 1st quarter. Yousif Capital Management LLC now owns 11,004 shares of the basic materials company’s stock valued at $174,000 after purchasing an additional 972 shares during the period. NorthCrest Asset Manangement LLC bought a new stake in shares of Huntsman during the 1st quarter worth about $239,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Huntsman by 898.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 167,206 shares of the basic materials company’s stock worth $2,640,000 after buying an additional 150,461 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Huntsman by 2.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 83,184 shares of the basic materials company’s stock worth $1,313,000 after buying an additional 1,704 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Huntsman during the 1st quarter worth about $169,000. 84.81% of the stock is owned by institutional investors and hedge funds.

Huntsman Trading Up 1.4%

NYSE HUN opened at $8.25 on Wednesday. Huntsman has a one year low of $7.74 and a one year high of $23.08. The company has a 50-day simple moving average of $9.86 and a 200-day simple moving average of $10.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 1.43. The firm has a market capitalization of $1.43 billion, a PE ratio of -4.23 and a beta of 0.64.

Huntsman (NYSE:HUN) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities analysts forecast that Huntsman will post 0.32 earnings per share for the current year.

Huntsman Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.1%. The ex-dividend date of this dividend was Monday, September 15th. Huntsman’s payout ratio is presently -51.28%.

About Huntsman

Huntsman Corporation manufactures and sells diversified organic chemical products worldwide. The company operates in three segments: Polyurethanes, Performance Products, and Advanced Materials. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyether and polyester polyols, and thermoplastic polyurethane; and aniline, benzene, nitrobenzene and other co-products.