Citigroup Cuts Huntsman (NYSE:HUN) Price Target to $11.00

Huntsman (NYSE:HUN - Free Report) had its price target lowered by Citigroup from $12.00 to $11.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the basic materials company's stock.

A number of other research analysts also recently weighed in on HUN. Wells Fargo & Company downgraded Huntsman from an "overweight" rating to a "reduce" rating in a research note on Monday, May 5th. Royal Bank Of Canada cut their price objective on Huntsman from $15.00 to $12.00 and set a "sector perform" rating on the stock in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their price objective on Huntsman from $22.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Wall Street Zen downgraded Huntsman from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, The Goldman Sachs Group decreased their price objective on Huntsman from $13.50 to $12.00 and set a "sell" rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $14.28.

Huntsman Stock Down 3.3%

Shares of HUN traded down $0.40 during midday trading on Thursday, reaching $11.49. 665,686 shares of the stock were exchanged, compared to its average volume of 3,670,526. Huntsman has a 12-month low of $10.13 and a 12-month high of $25.12. The firm has a 50 day simple moving average of $11.41 and a 200-day simple moving average of $14.51. The company has a quick ratio of 0.82, a current ratio of 1.48 and a debt-to-equity ratio of 0.53. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -12.62 and a beta of 0.70.

Huntsman (NYSE:HUN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported ($0.11) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.11). Huntsman had a negative return on equity of 0.65% and a negative net margin of 2.63%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same period last year, the business earned ($0.06) EPS. The business's quarterly revenue was down 4.1% on a year-over-year basis. Research analysts forecast that Huntsman will post 0.32 EPS for the current year.

Huntsman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.71%. The ex-dividend date was Friday, June 13th. Huntsman's dividend payout ratio is -109.89%.

Institutional Trading of Huntsman

Several institutional investors have recently bought and sold shares of HUN. Hexagon Capital Partners LLC boosted its stake in Huntsman by 177.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,179 shares of the basic materials company's stock worth $34,000 after purchasing an additional 1,395 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Huntsman by 74.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,232 shares of the basic materials company's stock worth $40,000 after acquiring an additional 956 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Huntsman by 1,717.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company's stock worth $51,000 after acquiring an additional 3,075 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Huntsman during the fourth quarter worth $60,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Huntsman during the first quarter worth $53,000. Institutional investors and hedge funds own 84.81% of the company's stock.

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.