Huntsman (NYSE:HUN) Downgraded to “Buy” at StockNews.com

StockNews.com lowered shares of Huntsman (NYSE:HUNGet Rating) from a strong-buy rating to a buy rating in a report issued on Wednesday.

A number of other equities research analysts have also recently commented on the company. Jefferies Financial Group increased their target price on Huntsman from $46.00 to $49.00 and gave the stock a buy rating in a research note on Wednesday, February 16th. Royal Bank of Canada increased their price objective on Huntsman from $45.00 to $50.00 and gave the company an outperform rating in a research report on Wednesday, February 16th. The Goldman Sachs Group increased their price objective on Huntsman from $44.00 to $50.00 and gave the company a buy rating in a research report on Tuesday, March 1st. Bank of America cut Huntsman from a buy rating to an underperform rating and dropped their price objective for the company from $45.00 to $34.00 in a research report on Tuesday. Finally, KeyCorp cut Huntsman from an overweight rating to a sector weight rating in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Huntsman presently has an average rating of Buy and a consensus price target of $46.82.

NYSE HUN opened at $30.02 on Wednesday. Huntsman has a 12 month low of $24.09 and a 12 month high of $41.65. The stock has a market cap of $6.30 billion, a P/E ratio of 5.55, a P/E/G ratio of 0.60 and a beta of 1.13. The stock’s fifty day moving average price is $34.70 and its 200-day moving average price is $35.77. The company has a current ratio of 1.88, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34.

Huntsman (NYSE:HUNGet Rating) last released its earnings results on Thursday, April 28th. The basic materials company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.19. Huntsman had a return on equity of 21.09% and a net margin of 13.16%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, analysts forecast that Huntsman will post 4.49 earnings per share for the current fiscal year.

Huntsman declared that its board has approved a stock repurchase program on Monday, March 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 24.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, June 14th. Huntsman’s dividend payout ratio (DPR) is currently 15.71%.

Several hedge funds and other institutional investors have recently bought and sold shares of HUN. Morgan Stanley raised its stake in Huntsman by 98.0% during the 2nd quarter. Morgan Stanley now owns 1,833,934 shares of the basic materials company’s stock valued at $48,636,000 after purchasing an additional 907,578 shares during the period. Invesco Ltd. raised its stake in Huntsman by 7.6% during the 3rd quarter. Invesco Ltd. now owns 2,834,940 shares of the basic materials company’s stock valued at $83,886,000 after purchasing an additional 200,802 shares during the period. Point72 Asset Management L.P. bought a new stake in Huntsman during the 3rd quarter valued at approximately $9,022,000. Moore Capital Management LP bought a new stake in Huntsman during the 3rd quarter valued at approximately $5,472,000. Finally, LPL Financial LLC grew its holdings in Huntsman by 4.0% during the 3rd quarter. LPL Financial LLC now owns 64,267 shares of the basic materials company’s stock valued at $1,902,000 after buying an additional 2,478 shares in the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Company Profile (Get Rating)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

Further Reading

Analyst Recommendations for Huntsman (NYSE:HUN)

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