Wells Fargo & Company Issues Pessimistic Forecast for Huntsman (NYSE:HUN) Stock Price

Huntsman (NYSE:HUN) had its price objective cut by Wells Fargo & Company from $26.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 22.43% from the company’s previous close.

Several other research analysts have also issued reports on the company. Royal Bank of Canada raised their price target on Huntsman from $21.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. cut their price target on shares of Huntsman from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, UBS Group reduced their price objective on shares of Huntsman from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.75.

Huntsman Trading Down 3.4 %

HUN stock traded down $0.72 during trading on Wednesday, hitting $20.42. The company had a trading volume of 762,414 shares, compared to its average volume of 1,895,515. 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 has a 12 month low of $19.90 and a 12 month high of $27.01. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -30.67 and a beta of 1.02. The firm has a 50-day moving average price of $22.71 and a 200-day moving average price of $23.03.

Huntsman (NYSE:HUN) last released its earnings results on Monday, November 4th. The basic materials company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. Huntsman had a negative net margin of 1.99% and a negative return on equity of 0.03%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. As a group, analysts predict that Huntsman will post 0.19 earnings per share for the current year.

Institutional Investors Weigh In On Huntsman

A number of hedge funds and other institutional investors have recently made changes to their positions in HUN. Allspring Global Investments Holdings LLC lifted its stake in Huntsman by 1.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,657,819 shares of the basic materials company’s stock valued at $151,599,000 after acquiring an additional 97,082 shares in the last quarter. Millennium Management LLC lifted its position in shares of Huntsman by 5.2% in the second quarter. Millennium Management LLC now owns 4,891,928 shares of the basic materials company’s stock worth $111,389,000 after purchasing an additional 243,821 shares in the last quarter. 1832 Asset Management L.P. grew its position in Huntsman by 54.0% in the second quarter. 1832 Asset Management L.P. now owns 4,415,264 shares of the basic materials company’s stock valued at $100,536,000 after purchasing an additional 1,547,344 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Huntsman by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,408,592 shares of the basic materials company’s stock valued at $62,697,000 after buying an additional 203,396 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Huntsman by 52.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,358,390 shares of the basic materials company’s stock worth $53,701,000 after buying an additional 811,099 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

Huntsman Company Profile

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.