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

Key Points

• Citigroup has reduced its target price for Huntsman stock from $11.00 to $9.00, indicating a potential downside of 3.28% from its previous close, while maintaining a "neutral" rating.
• Other analysts, including Goldman Sachs and Bank of America, have also downgraded their ratings and price targets for Huntsman, contributing to a consensus rating of "Hold" with an average target price of $12.72.
• Huntsman recently reported a loss of ($0.20) earnings per share for the quarter, missing estimates and showing a 7.4% year-over-year decline in revenue.

Huntsman (NYSE:HUN - Get Free Report) had its price target decreased by equities researchers at Citigroup from $11.00 to $9.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the basic materials company's stock. Citigroup's target price would suggest a potential downside of 4.57% from the company's previous close.

HUN has been the topic of a number of other research reports. UBS Group reduced their price target on Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Bank of America downgraded Huntsman from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $22.00 to $15.00 in a report on Tuesday, April 15th. Wells Fargo & Company cut Huntsman from an "overweight" rating to a "reduce" rating in a research report on Monday, May 5th. Morgan Stanley decreased their price objective on shares of Huntsman from $20.00 to $13.50 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Royal Bank Of Canada dropped their target price on shares of Huntsman from $12.00 to $10.00 and set a "sector perform" rating for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $12.06.

Huntsman Price Performance

HUN stock traded down $0.07 during midday trading on Monday, reaching $9.43. The stock had a trading volume of 961,788 shares, compared to its average volume of 3,902,715. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -4.82 and a beta of 0.70. The company has a current ratio of 1.43, a quick ratio of 0.82 and a debt-to-equity ratio of 0.54. Huntsman has a 52-week low of $9.02 and a 52-week high of $25.12. The company's fifty day simple moving average is $10.90 and its 200 day simple moving average is $13.58.

Huntsman (NYSE:HUN - Get Free Report) last released 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). Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company's revenue was down 7.4% on a year-over-year basis. As a group, sell-side analysts predict that Huntsman will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Huntsman

A number of large investors have recently modified their holdings of the company. Two Sigma Investments LP lifted its position in Huntsman by 28.6% during the fourth quarter. Two Sigma Investments LP now owns 1,074,347 shares of the basic materials company's stock valued at $19,370,000 after buying an additional 239,193 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Huntsman by 898.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 167,206 shares of the basic materials company's stock valued at $2,640,000 after purchasing an additional 150,461 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Huntsman by 12.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 132,516 shares of the basic materials company's stock valued at $2,096,000 after purchasing an additional 14,812 shares in the last quarter. Twelve Points Wealth Management LLC grew its stake in shares of Huntsman by 51.0% during the first quarter. Twelve Points Wealth Management LLC now owns 115,641 shares of the basic materials company's stock valued at $1,826,000 after acquiring an additional 39,035 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Huntsman by 72.0% during the first quarter. Teacher Retirement System of Texas now owns 63,424 shares of the basic materials company's stock worth $1,001,000 after acquiring an additional 26,551 shares during the last quarter. 84.81% of the stock is currently owned by hedge funds and other institutional investors.

Huntsman Company Profile

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.