Bank of America Issues Positive Forecast for Huntsman (NYSE:HUN) Stock Price

Huntsman (NYSE:HUN) had its price target boosted by Bank of America from $10.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the basic materials company’s stock. Bank of America‘s price target would indicate a potential upside of 4.71% from the company’s previous close.

HUN has been the subject of several other research reports. Citigroup lifted their price objective on Huntsman from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Wall Street Zen raised Huntsman from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley boosted their price target on Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. Mizuho upgraded shares of Huntsman from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $14.00 in a research note on Tuesday, June 16th. Finally, Royal Bank Of Canada raised their price objective on shares of Huntsman from $14.00 to $15.00 and gave the stock a “sector perform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Huntsman presently has a consensus rating of “Hold” and a consensus target price of $13.83.

Huntsman Stock Performance

Huntsman stock traded down $0.45 during midday trading on Tuesday, reaching $10.51. 3,199,406 shares of the company traded hands, compared to its average volume of 6,426,935. Huntsman has a 12 month low of $7.30 and a 12 month high of $16.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 0.75. The business has a 50 day moving average of $13.88 and a two-hundred day moving average of $12.62. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -5.46 and a beta of 0.64.

Huntsman (NYSE:HUN) last posted its earnings results on Thursday, April 30th. The basic materials company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.39 billion. Huntsman had a negative net margin of 5.83% and a negative return on equity of 4.60%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) EPS. As a group, research analysts predict that Huntsman will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HUN. Caerus Investment Advisors LLC purchased a new stake in Huntsman in the 1st quarter worth approximately $160,000. Glenmede Trust Co. NA purchased a new stake in shares of Huntsman in the first quarter worth $133,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Huntsman in the first quarter worth $1,284,000. Essential Partners LLC lifted its stake in shares of Huntsman by 40.3% during the 1st quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock valued at $77,000 after buying an additional 1,655 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Huntsman by 17.6% in the 1st quarter. Bank of America Corp DE now owns 1,595,802 shares of the basic materials company’s stock worth $21,240,000 after buying an additional 238,592 shares during the period. 84.81% of the stock is currently owned by institutional investors.

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.