Huntsman (NYSE:HUN) Stock Price Up 5.7% – What’s Next?

Huntsman Corporation (NYSE:HUN)’s stock price shot up 5.7% during mid-day trading on Friday. The company traded as high as $9.50 and last traded at $9.4780. Approximately 1,034,762 shares were traded during trading, a decline of 80% from the average daily volume of 5,057,147 shares. The stock had previously closed at $8.97.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HUN shares. Royal Bank Of Canada dropped their target price on Huntsman from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings downgraded shares of Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 3rd. The Goldman Sachs Group set a $12.00 price target on shares of Huntsman in a research report on Thursday, July 16th. Citigroup dropped their price objective on shares of Huntsman from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Finally, Jefferies Financial Group cut their price objective on shares of Huntsman from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.31.

Huntsman Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33. The firm has a market capitalization of $1.69 billion, a P/E ratio of -9.25 and a beta of 0.80. The business has a fifty day moving average of $9.01 and a 200-day moving average of $11.69.

Insider Activity

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $9.81 per share, with a total value of $981,000.00. Following the completion of the purchase, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. This trade represents a 1.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Huntsman

A number of hedge funds and other institutional investors have recently modified their holdings of HUN. Versant Capital Management Inc lifted its holdings in Huntsman by 166.7% in the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 1,670 shares during the period. Nykredit A S acquired a new position in Huntsman during the 2nd quarter valued at about $32,000. Global Retirement Partners LLC acquired a new position in Huntsman during the 2nd quarter valued at about $45,000. Allworth Financial LP acquired a new position in Huntsman during the 2nd quarter valued at about $52,000. Finally, Essential Partners LLC raised its position in shares of Huntsman by 40.3% during the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock worth $77,000 after buying an additional 1,655 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman’s principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.