Huntsman (HUN) Stock Rating Reaffirmed by Instinet
Huntsman (NYSE:HUN)‘s stock had its “neutral” rating restated by investment analysts at Instinet in a research report issued to clients and investors on Tuesday.
Several other research firms have also commented on HUN. Jefferies Group upped their price objective on Huntsman to $43.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Tudor Pickering assumed coverage on Huntsman in a research note on Friday, January 19th. They issued a “buy” rating for the company. ValuEngine upgraded Huntsman from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Citigroup upped their price objective on Huntsman from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, KeyCorp upped their price objective on Huntsman from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $35.58.
Shares of Huntsman (NYSE HUN) opened at $30.99 on Tuesday. The firm has a market cap of $7,512.62, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 1.37 and a beta of 2.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 1.83. Huntsman has a 12 month low of $21.92 and a 12 month high of $36.09.
Huntsman declared that its Board of Directors has authorized a stock repurchase program on Friday, February 23rd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the basic materials company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In related news, CEO Anthony P. Hankins sold 100,000 shares of the company’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $33.24, for a total value of $3,324,000.00. Following the completion of the transaction, the chief executive officer now owns 462,615 shares of the company’s stock, valued at approximately $15,377,322.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Monte G. Edlund sold 2,000 shares of the company’s stock in a transaction on Saturday, February 17th. The stock was sold at an average price of $21.40, for a total transaction of $42,800.00. Following the completion of the transaction, the insider now directly owns 52,696 shares of the company’s stock, valued at approximately $1,127,694.40. The disclosure for this sale can be found here. Insiders sold a total of 2,150,955 shares of company stock valued at $48,905,165 in the last ninety days. 19.00% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Huntsman by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock worth $188,000 after buying an additional 610 shares during the period. Amalgamated Bank boosted its holdings in Huntsman by 6.0% in the 4th quarter. Amalgamated Bank now owns 39,304 shares of the basic materials company’s stock worth $1,308,000 after buying an additional 2,215 shares during the period. Swiss National Bank boosted its holdings in Huntsman by 0.8% in the 3rd quarter. Swiss National Bank now owns 340,774 shares of the basic materials company’s stock worth $9,344,000 after buying an additional 2,600 shares during the period. Raymond James & Associates boosted its holdings in Huntsman by 0.6% in the 4th quarter. Raymond James & Associates now owns 430,620 shares of the basic materials company’s stock worth $14,335,000 after buying an additional 2,756 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Huntsman by 34.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 12,142 shares of the basic materials company’s stock worth $404,000 after buying an additional 3,144 shares during the period. 75.95% of the stock is owned by institutional investors.
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Huntsman Company Profile
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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