Huntsman (NYSE:HUN) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its Huntsman price target to $11 from $10 but kept an “equal weight” rating, implying about 12.9% upside from the quoted share price.
• Analyst sentiment remains cautious: Huntsman has an average “Hold” rating and an average price target of $11.54.
• Third-quarter revenue rose 17.6% year over year to $1.72 billion, beating estimates, while EPS of $0.04 missed the $0.07 consensus.

Huntsman (NYSE:HUN - Get Free Report) had its price objective raised by analysts at Barclays from $10.00 to $11.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the basic materials company's stock. Barclays's price target would indicate a potential upside of 12.88% from the company's current price.

Other research analysts have also issued research reports about the stock. KeyCorp initiated coverage on shares of Huntsman in a research report on Friday, September 11th. They set an "overweight" rating and a $14.00 target price for the company. Citigroup lowered their price target on Huntsman from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. Jefferies Financial Group set a $12.00 price objective on Huntsman in a research note on Tuesday. UBS Group cut their price objective on Huntsman from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Monday, October 5th. Finally, The Goldman Sachs Group set a $12.00 target price on Huntsman in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.54.

Huntsman Stock Up 2.0%

Shares of HUN stock traded up $0.20 during trading on Wednesday, hitting $9.74. 1,679,201 shares of the company were exchanged, compared to its average volume of 5,047,862. The business's 50-day simple moving average is $9.00 and its 200 day simple moving average is $11.66. Huntsman has a twelve month low of $7.30 and a twelve month high of $16.08. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -9.75 and a beta of 0.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.78 and a current ratio of 1.33.

Huntsman (NYSE:HUN - Get Free Report) last posted its earnings results on Monday, November 2nd. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). Huntsman had a negative net margin of 2.81% and a negative return on equity of 3.11%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned ($0.03) earnings per share. Huntsman's revenue was up 17.6% compared to the same quarter last year. As a group, analysts forecast that Huntsman will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Huntsman

Several hedge funds and other institutional investors have recently modified their holdings of HUN. BlackRock Inc. bought a new position in shares of Huntsman during the 2nd quarter worth approximately $193,750,000. Dimensional Fund Advisors LP lifted its position in shares of Huntsman by 16.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,950,777 shares of the basic materials company's stock worth $92,509,000 after purchasing an additional 1,003,187 shares in the last quarter. Pzena Investment Management LLC acquired a new position in Huntsman during the second quarter worth $54,817,000. Private Management Group Inc. acquired a new position in Huntsman during the third quarter worth $27,935,000. Finally, Bank of America Corp DE bought a new position in Huntsman in the second quarter valued at $23,596,000. Institutional investors own 84.81% of the company's stock.

Huntsman News Roundup

Here are the key news stories impacting Huntsman this week:

• Positive Sentiment: Third-quarter revenue rose 17.6% year over year to $1.72 billion, exceeding analyst expectations of $1.61 billion. Adjusted EPS improved to $0.04 from a loss of $0.03 a year earlier, and adjusted net income was $7 million versus an adjusted loss last year. Huntsman Q3 results
• Neutral Sentiment: Royal Bank of Canada raised its price target to $10 from $9 but maintained a “sector perform” rating, implying only about 2% upside from the quoted share price. RBC price target update
• Negative Sentiment: Adjusted EPS of $0.04 fell short of the $0.07 consensus. Huntsman also reported a GAAP net loss of $18 million, although that was narrower than the $25 million loss a year earlier. The earnings call struck a cautiously optimistic tone amid ongoing headwinds. Earnings call highlights

About Huntsman

Huntsman Corporation NYSE: HUN is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company develops and produces materials used by manufacturers in a broad range of industries, including construction, automotive, aerospace, electronics, energy, coatings, adhesives and consumer products.

Huntsman's principal businesses include polyurethane products, performance products and advanced materials. Its portfolio includes polyurethane systems and intermediates, epoxy and other specialty resins, curing agents, amines, maleic anhydride and other chemicals used in insulation, composites, coatings, adhesives and industrial applications.

The company serves customers internationally through manufacturing facilities, research and development operations, and sales offices in North America, Europe, Asia-Pacific and other regions.

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