Bank of America Reiterates "Underperform" Rating for Huntsman (NYSE:HUN)

Key Points

• Bank of America has reiterated an "underperform" rating for Huntsman (NYSE:HUN), lowering its price target from $9.00 to $8.00, suggesting a potential downside of 2.02% from the current price.
• Several other brokerages have also downgraded Huntsman's stock, with Mizuho, Goldman Sachs, and UBS all cutting their price targets and issuing negative ratings.
• Huntsman's recent quarterly earnings report showed a loss of ($0.20) EPS, falling short of analysts' expectations and indicating a revenue decline of 7.4% compared to the previous year.

Huntsman (NYSE:HUN - Get Free Report)'s stock had its "underperform" rating reiterated by research analysts at Bank of America in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $8.00 price objective on the basic materials company's stock, down from their prior price objective of $9.00. Bank of America's price objective would indicate a potential downside of 2.02% from the company's current price.

A number of other brokerages also recently issued reports on HUN. Mizuho cut their price target on shares of Huntsman from $9.00 to $8.00 and set an "underperform" rating for the company in a report on Friday, October 3rd. The Goldman Sachs Group cut their price target on shares of Huntsman from $12.00 to $10.00 and set a "sell" rating for the company in a report on Thursday, August 7th. UBS Group cut their price target on shares of Huntsman from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, October 6th. Weiss Ratings reiterated a "sell (d)" rating on shares of Huntsman in a report on Wednesday, October 8th. Finally, Jefferies Financial Group cut their price target on shares of Huntsman from $15.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $11.00.

Huntsman Stock Up 0.6%

Shares of Huntsman stock opened at $8.17 on Tuesday. The company has a market cap of $1.42 billion, a P/E ratio of -4.19 and a beta of 0.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.85 and a current ratio of 1.43. Huntsman has a one year low of $8.07 and a one year high of $23.98. The firm has a fifty day moving average of $9.99 and a two-hundred day moving average of $11.24.

Huntsman (NYSE:HUN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The firm had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.51 billion. Huntsman had a negative return on equity of 2.48% and a negative net margin of 5.75%.The firm's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, analysts forecast that Huntsman will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Huntsman

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 7,699,922 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Huntsman by 8.0% during the second quarter. Invesco Ltd. now owns 6,549,631 shares of the basic materials company's stock worth $68,247,000 after buying an additional 485,587 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Huntsman by 7.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,105,566 shares of the basic materials company's stock worth $96,407,000 after buying an additional 419,009 shares in the last quarter. Pzena Investment Management LLC grew its holdings in shares of Huntsman by 9.3% during the second quarter. Pzena Investment Management LLC now owns 5,310,768 shares of the basic materials company's stock worth $55,338,000 after buying an additional 451,761 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Huntsman by 0.4% during the second quarter. Geode Capital Management LLC now owns 2,689,225 shares of the basic materials company's stock worth $28,027,000 after buying an additional 10,154 shares in the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

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.

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