Huntsman (NYSE:HUN) Rating Lowered to Sector Perform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Huntsman (NYSE:HUNGet Rating) from an outperform rating to a sector perform rating in a research note issued to investors on Monday, MarketBeat reports. Royal Bank of Canada currently has $30.00 price objective on the basic materials company’s stock, down from their previous price objective of $43.00.

Several other equities analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Huntsman from $40.00 to $35.00 in a research report on Wednesday, August 3rd. Citigroup cut their price objective on Huntsman from $35.00 to $34.00 in a research report on Thursday, August 4th. Credit Suisse Group began coverage on Huntsman in a research report on Monday, September 12th. They issued an outperform rating and a $33.00 price objective for the company. UBS Group downgraded Huntsman from a buy rating to a neutral rating and set a $40.00 price objective for the company. in a research report on Wednesday, August 3rd. Finally, Wells Fargo & Company lowered their target price on Huntsman from $42.00 to $35.00 and set an overweight rating for the company in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Huntsman presently has an average rating of Hold and an average target price of $40.00.

Huntsman Price Performance

Huntsman stock opened at $24.66 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.12 and a quick ratio of 1.26. The company has a market capitalization of $4.97 billion, a PE ratio of 4.24, a price-to-earnings-growth ratio of 1.08 and a beta of 1.15. Huntsman has a one year low of $24.31 and a one year high of $41.65. The business has a 50 day simple moving average of $28.44 and a 200 day simple moving average of $32.17.

Huntsman (NYSE:HUNGet Rating) last posted its earnings results on Tuesday, August 2nd. The basic materials company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.14 by $0.14. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.30 billion. Huntsman had a return on equity of 22.23% and a net margin of 13.45%. Huntsman’s revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. On average, sell-side analysts forecast that Huntsman will post 4.06 EPS for the current fiscal year.

Huntsman Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.45%. Huntsman’s dividend payout ratio (DPR) is presently 14.63%.

Insider Activity at Huntsman

In other news, Director Curtis E. Espeland acquired 15,000 shares of Huntsman stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $30.18 per share, with a total value of $452,700.00. Following the purchase, the director now directly owns 18,533 shares of the company’s stock, valued at $559,325.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Curtis E. Espeland acquired 15,000 shares of Huntsman stock in a transaction that occurred on Thursday, August 11th. The shares were acquired at an average price of $30.18 per share, with a total value of $452,700.00. Following the purchase, the director now directly owns 18,533 shares of the company’s stock, valued at $559,325.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David M. Stryker acquired 10,000 shares of Huntsman stock in a transaction that occurred on Friday, August 12th. The shares were purchased at an average cost of $29.90 per share, for a total transaction of $299,000.00. Following the purchase, the vice president now directly owns 341,614 shares in the company, valued at $10,214,258.60. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HUN. Ellevest Inc. boosted its stake in Huntsman by 369.0% during the 1st quarter. Ellevest Inc. now owns 802 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 631 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in Huntsman during the 1st quarter worth approximately $30,000. CoreCap Advisors LLC acquired a new stake in Huntsman during the 2nd quarter worth approximately $34,000. Bourgeon Capital Management LLC acquired a new stake in Huntsman during the 1st quarter worth approximately $38,000. Finally, CWM LLC raised its holdings in Huntsman by 45.3% during the 1st quarter. CWM LLC now owns 1,136 shares of the basic materials company’s stock worth $43,000 after buying an additional 354 shares during the period. Institutional investors own 87.62% of the company’s stock.

Huntsman Company Profile

(Get Rating)

Huntsman Corporation manufactures and sells differentiated organic chemical products worldwide. The company operates through four segments: Polyurethanes, Performance Products, Advanced Materials, and Textile Effects. The Polyurethanes segment offers polyurethane chemicals, including methyl diphenyl diisocyanate, polyols, thermoplastic polyurethane, propylene oxide, and methyl tertiary-butyl ether products.

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Analyst Recommendations for Huntsman (NYSE:HUN)

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