UBS Group Cuts Huntsman (NYSE:HUN) Price Target to $9.00

Key Points

• UBS Group lowered Huntsman’s price target from $10 to $9 while maintaining a “neutral” rating, implying roughly 2% upside from the stock’s $8.82 price.
• Analyst sentiment remains cautious: Huntsman has an overall “Hold” consensus rating and an average price target of $11.62, with ratings ranging from Strong Buy to Sell.
• Huntsman shares remain near their 52-week low of $7.30, while CEO Peter Huntsman recently purchased 100,000 shares at an average price of $9.81.

Huntsman (NYSE:HUN - Get Free Report) had its target price cut by stock analysts at UBS Group from $10.00 to $9.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. UBS Group's price target would indicate a potential upside of 1.98% from the stock's current price.

Several other brokerages also recently commented on HUN. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $11.00 price target on shares of Huntsman in a research report on Thursday, August 20th. KeyCorp assumed coverage on Huntsman in a research report on Friday, September 11th. They issued an "overweight" rating and a $14.00 price target for the company. Jefferies Financial Group lowered their price objective on Huntsman from $16.00 to $11.00 and set a "buy" rating on the stock in a report on Friday. The Goldman Sachs Group set a $12.00 price target on Huntsman in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price objective on shares of Huntsman from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $11.62.

Huntsman Stock Performance

Shares of HUN traded up $0.29 during mid-day trading on Monday, hitting $8.82. 2,356,838 shares of the company's stock were exchanged, compared to its average volume of 5,269,951. The firm has a market capitalization of $1.55 billion, a P/E ratio of -8.49 and a beta of 0.80. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 0.59. The business's 50 day moving average is $9.74 and its two-hundred day moving average is $11.92. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08.

Insider Buying and Selling

In other Huntsman news, CEO Peter R. Huntsman acquired 100,000 shares of Huntsman stock in a transaction on Monday, August 3rd. The shares were purchased at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the purchase, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. The trade was a 1.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Huntsman

Several hedge funds have recently added to or reduced their stakes in the stock. Lombard Odier Asset Management USA Corp lifted its holdings in shares of Huntsman by 6.2% in the first quarter. Lombard Odier Asset Management USA Corp now owns 16,868 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 982 shares in the last quarter. Fifth Third Bancorp lifted its position in Huntsman by 15.0% during the 1st quarter. Fifth Third Bancorp now owns 11,508 shares of the basic materials company's stock worth $153,000 after buying an additional 1,498 shares in the last quarter. Essential Partners LLC grew its holdings in shares of Huntsman by 40.3% in the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company's stock valued at $77,000 after acquiring an additional 1,655 shares in the last quarter. Versant Capital Management Inc raised its holdings in Huntsman by 166.7% during the second quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company's stock worth $28,000 after acquiring an additional 1,670 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Huntsman by 30.0% during the first quarter. EverSource Wealth Advisors LLC now owns 7,240 shares of the basic materials company's stock valued at $96,000 after purchasing an additional 1,672 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company's stock.

Huntsman Company Profile

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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