Huntsman (NYSE:HUN) Cut to Strong Sell at Zacks Research

Key Points

• Zacks Research downgraded Huntsman to “strong sell” from “hold,” while the broader analyst consensus remains “hold” with an average price target of $11.29.
• Huntsman shares opened at $8.15, near the lower end of their 52-week range of $7.30 to $16.08, with the stock trading below both its 50-day and 200-day moving averages.
• CEO Peter Huntsman purchased 100,000 shares for approximately $981,000, while institutional investors own 84.81% of the company’s stock.

Huntsman (NYSE:HUN - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently weighed in on the company. Barclays assumed coverage on Huntsman in a report on Monday. They issued an "equal weight" rating and a $10.00 price target for the company. Mizuho dropped their price objective on shares of Huntsman from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Bank of America boosted their target price on shares of Huntsman from $10.00 to $11.00 and gave the stock an "underperform" rating in a research report on Tuesday, June 30th. UBS Group decreased their target price on shares of Huntsman from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Monday, October 5th. Finally, The Goldman Sachs Group set a $12.00 price target on shares of Huntsman in a research note on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.29.

Huntsman Trading Up 1.1%

HUN stock opened at $8.15 on Monday. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. Huntsman has a 1 year low of $7.30 and a 1 year high of $16.08. The stock has a 50-day simple moving average of $9.37 and a 200-day simple moving average of $11.77.

Insider Activity

In other Huntsman news, CEO Peter R. Huntsman bought 100,000 shares of Huntsman stock in a transaction dated Monday, August 3rd. The stock was bought at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. This represents a 1.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 6.80% of the stock is currently owned by insiders.

Institutional Trading of Huntsman

A number of hedge funds and other institutional investors have recently made changes to their positions in HUN. BlackRock Inc. bought a new position in Huntsman during the second quarter worth $193,750,000. Pzena Investment Management LLC bought a new stake in Huntsman during the second quarter valued at $54,817,000. Bank of America Corp DE acquired a new stake in shares of Huntsman during the second quarter worth $23,596,000. Bank of Nova Scotia acquired a new stake in shares of Huntsman during the second quarter worth $11,907,000. Finally, Man Group plc bought a new position in shares of Huntsman in the 2nd quarter worth about $11,485,000. Institutional investors own 84.81% of the company's stock.

About Huntsman

Huntsman Corporation NYSE: HUN is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman's product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.

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