JPMorgan Chase & Co. Lowers Huntsman (NYSE:HUN) Price Target to $11.00

Huntsman (NYSE:HUN) had its target price dropped by research analysts at JPMorgan Chase & Co. from $20.00 to $11.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 28.41% from the company’s current price.

A number of other equities research analysts also recently weighed in on the stock. Alembic Global Advisors set a $11.00 price objective on shares of Huntsman in a research report on Monday, October 27th. Royal Bank Of Canada dropped their price target on Huntsman from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Monday. UBS Group cut their target price on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Jefferies Financial Group dropped their price objective on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 10th. Finally, The Goldman Sachs Group reduced their target price on shares of Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $10.00.

Huntsman Price Performance

Shares of NYSE HUN opened at $8.57 on Monday. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -4.39 and a beta of 0.68. Huntsman has a twelve month low of $7.30 and a twelve month high of $20.94. The business has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $10.45.

Huntsman (NYSE:HUN) last announced its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.10. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, equities research analysts expect that Huntsman will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Huntsman

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Huntsman by 345.7% during the first quarter. AQR Capital Management LLC now owns 9,926,971 shares of the basic materials company’s stock worth $151,982,000 after acquiring an additional 7,699,922 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Huntsman in the 2nd quarter worth approximately $21,953,000. Norges Bank bought a new stake in shares of Huntsman in the 2nd quarter worth approximately $21,651,000. SG Americas Securities LLC lifted its stake in Huntsman by 1,673.4% during the second quarter. SG Americas Securities LLC now owns 1,921,233 shares of the basic materials company’s stock valued at $20,019,000 after purchasing an additional 1,812,896 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Huntsman by 97.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,137,285 shares of the basic materials company’s stock worth $33,748,000 after acquiring an additional 1,052,127 shares in the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

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.