Wells Fargo & Company Issues Pessimistic Forecast for Huntsman (NYSE:HUN) Stock Price

Key Points

• Wells Fargo & Company has reduced the price target for Huntsman (NYSE:HUN) from $13.00 to $9.00, indicating a potential downside of 3.38% from its previous close.
• Other analysts have also downgraded Huntsman's price targets, with a consensus rating of "Hold" and an average target of $12.28.
• Huntsman reported a loss of ($0.20) earnings per share in its last quarterly results, missing estimates and reflecting a revenue decline of 7.4% year-over-year.

Huntsman (NYSE:HUN - Get Free Report) had its price target reduced by investment analysts at Wells Fargo & Company from $13.00 to $9.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's target price would indicate a potential downside of 3.38% from the company's previous close.

Other research analysts have also issued reports about the company. Mizuho reduced their price target on Huntsman from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Royal Bank Of Canada lowered their target price on Huntsman from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered their target price on Huntsman from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Citigroup lowered their target price on Huntsman from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday. Finally, UBS Group lowered their target price on Huntsman from $13.00 to $11.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $12.28.

Huntsman Stock Performance

Shares of NYSE HUN traded down $0.05 during trading hours on Tuesday, hitting $9.32. 602,190 shares of the company's stock were exchanged, compared to its average volume of 3,861,630. Huntsman has a 1-year low of $9.02 and a 1-year high of $25.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.48 and a quick ratio of 0.82. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.78 and a beta of 0.70. The company's 50-day moving average price is $11.01 and its 200-day moving average price is $13.70.

Huntsman (NYSE:HUN - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.51 billion. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.45%. The company's revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 earnings per share. On average, sell-side analysts expect that Huntsman will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Huntsman

Several large investors have recently added to or reduced their stakes in HUN. Hexagon Capital Partners LLC increased its stake in shares of Huntsman by 177.9% during the 1st 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 during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Huntsman by 74.9% during the 4th 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 boosted its stake in shares of Huntsman by 1,717.9% during the 1st 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 purchased a new position in shares of Huntsman during the 4th quarter worth $60,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Huntsman during the 1st quarter worth $53,000. Institutional investors own 84.81% of the company's stock.

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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