Huntsman (NYSE:HUN) Price Target Raised to $24.00 at Royal Bank of Canada

Huntsman (NYSE:HUN) had its target price raised by Royal Bank of Canada from $21.00 to $24.00 in a report released on Friday morning, Benzinga reports. They currently have a sector perform rating on the basic materials company’s stock.

Several other equities analysts have also issued reports on HUN. JPMorgan Chase & Co. reduced their target price on Huntsman from $27.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Citigroup decreased their target price on Huntsman from $26.00 to $24.00 and set a neutral rating for the company in a research report on Thursday, June 27th. UBS Group cut their price target on shares of Huntsman from $23.00 to $22.00 and set a neutral rating on the stock in a report on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price objective on shares of Huntsman from $28.00 to $26.00 and set an overweight rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Huntsman presently has a consensus rating of Hold and a consensus price target of $25.89.

Huntsman Stock Up 0.8 %

Shares of NYSE:HUN opened at $23.94 on Friday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -46.04 and a beta of 1.00. The business’s 50 day moving average is $22.13 and its 200 day moving average is $23.34. Huntsman has a 12-month low of $19.91 and a 12-month high of $27.01. The company has a quick ratio of 0.77, a current ratio of 1.30 and a debt-to-equity ratio of 0.40.

Huntsman (NYSE:HUN) last posted its earnings results on Monday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. Huntsman had a negative net margin of 1.44% and a positive return on equity of 0.26%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the business posted $0.22 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Huntsman will post 0.19 earnings per share for the current fiscal year.

Huntsman Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, September 13th. Huntsman’s dividend payout ratio (DPR) is currently -192.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HUN. Russell Investments Group Ltd. boosted its holdings in shares of Huntsman by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 665,652 shares of the basic materials company’s stock worth $17,327,000 after acquiring an additional 130,614 shares during the period. Diversified Trust Co bought a new position in Huntsman in the 2nd quarter worth about $2,180,000. Acadian Asset Management LLC grew its holdings in Huntsman by 1,052.7% during the 1st quarter. Acadian Asset Management LLC now owns 209,442 shares of the basic materials company’s stock valued at $5,449,000 after buying an additional 191,272 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Huntsman by 753.2% during the first quarter. 1832 Asset Management L.P. now owns 2,867,920 shares of the basic materials company’s stock valued at $74,652,000 after buying an additional 2,531,800 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Huntsman in the first quarter worth about $1,428,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

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.