Wells Fargo & Company Lowers Huntsman (NYSE:HUN) Price Target to $11.00

Key Points

• Wells Fargo lowered Huntsman’s price target from $14 to $11 while maintaining an “equal weight” rating, implying approximately 9.34% upside from the stock’s $10.06 price.
• Analyst sentiment remains mixed but centered on “Hold,” with a consensus target price of $12.83; recent targets range from $10 at RBC to $16 at Citigroup.
• CEO Peter Huntsman purchased 100,000 shares for about $981,000, while institutional investors own approximately 84.81% of the company.

Huntsman (NYSE:HUN - Get Free Report) had its price target reduced by equities researchers at Wells Fargo & Company from $14.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the basic materials company's stock. Wells Fargo & Company's price objective suggests a potential upside of 9.34% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Royal Bank Of Canada decreased their price objective on Huntsman from $11.00 to $10.00 and set a "sector perform" rating for the company in a research note on Monday. Citigroup increased their price target on shares of Huntsman from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, May 4th. Mizuho reduced their price objective on shares of Huntsman from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Huntsman from a "sell (d-)" rating to a "sell (d)" rating in a report on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on Huntsman from $11.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.83.

Huntsman Stock Up 0.4%

NYSE HUN opened at $10.06 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.75 and a current ratio of 1.27. The stock has a market capitalization of $1.76 billion, a P/E ratio of -9.80 and a beta of 0.69. The stock has a fifty day moving average of $12.57 and a 200-day moving average of $12.80. Huntsman has a 52 week low of $7.30 and a 52 week high of $16.08.

Insiders Place Their Bets

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the stock in a transaction on Monday, August 3rd. The shares were purchased at an average cost of $9.81 per share, for a total transaction of $981,000.00. Following the purchase, the chief executive officer owned 7,256,341 shares of the company's stock, valued at approximately $71,184,705.21. This represents a 1.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Huntsman

Several hedge funds have recently modified their holdings of the stock. 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. Advisory Services Network LLC acquired a new position in shares of Huntsman during the 3rd quarter worth approximately $58,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Huntsman by 121.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company's stock worth $61,000 after purchasing an additional 3,706 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Huntsman by 1,005.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company's stock valued at $65,000 after buying an additional 5,925 shares during the last quarter. Finally, Platinum Investment Management Ltd. bought a new position in shares of Huntsman in the fourth quarter valued at $68,000. Institutional investors own 84.81% of the company's stock.

Huntsman Company Profile

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.

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