JPMorgan Chase & Co. Cuts Huntsman (NYSE:HUN) Price Target to $11.00

Huntsman (NYSE:HUN) had its price target decreased by JPMorgan Chase & Co. from $20.00 to $11.00 in a research report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. Citigroup decreased their price objective on Huntsman from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Huntsman in a research note on Wednesday, October 8th. UBS Group lowered their price target on Huntsman from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. The Goldman Sachs Group cut their price objective on Huntsman from $10.00 to $9.00 and set a “sell” rating for the company in a report on Friday, October 17th. Finally, Jefferies Financial Group reduced their target price on shares of Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $10.00.

Huntsman Stock Down 1.1%

HUN opened at $8.48 on Monday. The company has a market capitalization of $1.47 billion, a P/E ratio of -4.35 and a beta of 0.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.43 and a quick ratio of 0.85. The firm’s fifty day moving average price is $9.14 and its two-hundred day moving average price is $10.44. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $20.94.

Huntsman (NYSE:HUN) last released its quarterly earnings data on Thursday, November 6th. The basic materials company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.10. Huntsman had a negative net margin of 5.75% and a negative return on equity of 2.48%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm earned $0.10 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts anticipate that Huntsman will post 0.32 EPS for the current year.

Huntsman Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.0875 per share. This represents a $0.35 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, December 15th. Huntsman’s dividend payout ratio is presently -18.42%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in Huntsman by 1,717.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,254 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 3,075 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Huntsman in the 1st quarter worth approximately $53,000. SJS Investment Consulting Inc. bought a new position in Huntsman in the 3rd quarter worth approximately $33,000. IFP Advisors Inc lifted its holdings in Huntsman by 197.6% during the 2nd quarter. IFP Advisors Inc now owns 3,661 shares of the basic materials company’s stock worth $38,000 after buying an additional 2,431 shares in the last quarter. Finally, Strengthening Families & Communities LLC boosted its position in Huntsman by 1,966.7% in the 1st quarter. Strengthening Families & Communities LLC now owns 3,906 shares of the basic materials company’s stock valued at $62,000 after buying an additional 3,717 shares during the last quarter. 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.