Huntsman Corporation (HUN) Earns “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Huntsman Corporation (NYSE:HUN) in a research report released on Tuesday. They currently have a $31.00 price target on the basic materials company’s stock.
Several other research analysts also recently commented on HUN. UBS AG reissued a buy rating and issued a $28.00 price objective (up from $24.00) on shares of Huntsman Corporation in a research note on Tuesday, April 4th. BidaskClub downgraded Huntsman Corporation from a strong-buy rating to a buy rating in a research note on Monday, July 24th. KeyCorp raised Huntsman Corporation from a sector weight rating to an overweight rating and set a $34.00 target price for the company in a research note on Monday, July 24th. Instinet reaffirmed a buy rating and issued a $30.00 target price on shares of Huntsman Corporation in a research note on Sunday, July 9th. Finally, Citigroup Inc. raised Huntsman Corporation from a neutral rating to a buy rating and raised their target price for the stock from $24.54 to $28.00 in a research note on Monday, April 3rd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Huntsman Corporation currently has an average rating of Buy and a consensus price target of $28.67.
Huntsman Corporation (NYSE HUN) traded down 0.19% on Tuesday, reaching $26.94. 2,577,859 shares of the company’s stock traded hands. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 15.28 and a beta of 2.81. The firm has a 50-day moving average price of $25.83 and a 200-day moving average price of $23.78. Huntsman Corporation has a 52 week low of $14.16 and a 52 week high of $28.30.
Huntsman Corporation (NYSE:HUN) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.18. Huntsman Corporation had a return on equity of 31.18% and a net margin of 4.33%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Huntsman Corporation will post $2.22 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, June 13th. Huntsman Corporation’s dividend payout ratio (DPR) is presently 28.41%.
In other Huntsman Corporation news, CFO Sean Douglas purchased 2,500 shares of the stock in a transaction dated Wednesday, May 31st. The stock was acquired at an average cost of $23.74 per share, for a total transaction of $59,350.00. Following the acquisition, the chief financial officer now owns 66,996 shares in the company, valued at approximately $1,590,485.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Randy W. Wright sold 32,962 shares of the stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $25.75, for a total value of $848,771.50. Following the transaction, the vice president now owns 69,148 shares of the company’s stock, valued at $1,780,561. The disclosure for this sale can be found here. 19.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Huntsman Corporation during the first quarter worth $122,000. Opera Trading Capital acquired a new position in Huntsman Corporation during the second quarter worth $129,000. CIBC Asset Management Inc acquired a new position in Huntsman Corporation during the second quarter worth $207,000. World Asset Management Inc acquired a new position in Huntsman Corporation during the first quarter worth $241,000. Finally, Asset Management One Co. Ltd. acquired a new position in Huntsman Corporation during the first quarter worth $262,000. Institutional investors and hedge funds own 71.70% of the company’s stock.
About Huntsman Corporation
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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