Huntsman Corporation (HUN) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Huntsman Corporation (NYSE:HUN) from a hold rating to a buy rating in a report released on Wednesday morning. They currently have $30.00 target price on the basic materials company’s stock.
According to Zacks, “Huntsman Corporation is among the world’s largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. “
HUN has been the subject of several other research reports. BidaskClub raised shares of Huntsman Corporation from a sell rating to a hold rating in a research report on Wednesday, August 23rd. ValuEngine raised shares of Huntsman Corporation from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Alembic Global Advisors reaffirmed a buy rating on shares of Huntsman Corporation in a research report on Monday, October 2nd. KeyCorp reaffirmed a buy rating and issued a $34.00 price objective on shares of Huntsman Corporation in a research report on Friday, September 1st. Finally, Nomura increased their price objective on shares of Huntsman Corporation from $30.00 to $34.00 and gave the company a buy rating in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $30.60.
Shares of Huntsman Corporation (NYSE HUN) traded up 2.48% on Wednesday, hitting $28.06. 4,579,442 shares of the company were exchanged. The company has a 50-day moving average price of $27.25 and a 200 day moving average price of $25.76. Huntsman Corporation has a 52-week low of $15.38 and a 52-week high of $28.67. The firm has a market cap of $6.74 billion, a P/E ratio of 15.91 and a beta of 2.79.
Huntsman Corporation (NYSE:HUN) last posted its earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.18. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.64 billion. Huntsman Corporation had a net margin of 4.33% and a return on equity of 30.04%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. Analysts predict that Huntsman Corporation will post $2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, September 14th. Huntsman Corporation’s payout ratio is currently 28.41%.
Several hedge funds have recently added to or reduced their stakes in HUN. UBS Asset Management Americas Inc. grew its position in shares of Huntsman Corporation by 95.5% during the first quarter. UBS Asset Management Americas Inc. now owns 287,493 shares of the basic materials company’s stock worth $7,055,000 after buying an additional 140,433 shares in the last quarter. M&T Bank Corp grew its position in shares of Huntsman Corporation by 2.6% during the first quarter. M&T Bank Corp now owns 11,443 shares of the basic materials company’s stock worth $282,000 after buying an additional 293 shares in the last quarter. KBC Group NV grew its position in shares of Huntsman Corporation by 107.8% during the first quarter. KBC Group NV now owns 23,942 shares of the basic materials company’s stock worth $588,000 after buying an additional 12,418 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Huntsman Corporation during the first quarter worth approximately $122,000. Finally, Blair William & Co. IL acquired a new stake in shares of Huntsman Corporation during the first quarter worth approximately $265,000. 75.10% of the stock is owned by institutional investors and hedge funds.
Huntsman Corporation Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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