Huntsman (NYSE:HUN) Price Target Cut to $20.00 by Analysts at Wells Fargo & Company

Huntsman (NYSE:HUN) had its price objective reduced by research analysts at Wells Fargo & Company from $22.00 to $20.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.78% from the company’s current price.

A number of other research analysts have also issued reports on HUN. The Goldman Sachs Group dropped their target price on Huntsman from $22.00 to $19.00 and set a “sell” rating on the stock in a report on Wednesday, March 5th. Alembic Global Advisors cut Huntsman from an “overweight” rating to a “neutral” rating in a research report on Wednesday, January 15th. Royal Bank of Canada raised their price target on Huntsman from $17.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Citigroup decreased their price target on Huntsman from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Finally, Morgan Stanley cut their price objective on Huntsman from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Huntsman currently has an average rating of “Hold” and an average price target of $20.25.

Huntsman Stock Down 2.6 %

HUN stock traded down $0.43 during trading on Friday, hitting $15.78. 367,054 shares of the company’s stock were exchanged, compared to its average volume of 2,115,670. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of -14.33 and a beta of 0.95. Huntsman has a 52-week low of $15.46 and a 52-week high of $26.48. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $17.08 and a two-hundred day moving average price of $19.38.

Huntsman (NYSE:HUN) last issued its earnings results on Monday, February 17th. The basic materials company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). Huntsman had a negative net margin of 3.13% and a negative return on equity of 0.39%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.45 billion. As a group, equities research analysts expect that Huntsman will post 0.32 EPS for the current year.

Institutional Investors Weigh In On Huntsman

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pzena Investment Management LLC lifted its holdings in Huntsman by 320.2% in the 4th quarter. Pzena Investment Management LLC now owns 4,695,678 shares of the basic materials company’s stock valued at $84,663,000 after purchasing an additional 3,578,100 shares in the last quarter. Nomura Holdings Inc. raised its holdings in Huntsman by 188.3% in the 4th quarter. Nomura Holdings Inc. now owns 3,269,000 shares of the basic materials company’s stock valued at $58,940,000 after acquiring an additional 2,135,000 shares during the last quarter. Norges Bank purchased a new position in shares of Huntsman during the 4th quarter worth $37,464,000. Deprince Race & Zollo Inc. boosted its holdings in shares of Huntsman by 70.2% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,762,907 shares of the basic materials company’s stock worth $49,815,000 after purchasing an additional 1,139,549 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Huntsman by 61.3% in the fourth quarter. Marshall Wace LLP now owns 1,712,163 shares of the basic materials company’s stock valued at $30,870,000 after purchasing an additional 650,951 shares during the period. Hedge funds and other institutional investors own 84.81% of the company’s stock.

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.