Huntsman (NYSE:HUN) Price Target Cut to $9.00 by Analysts at Royal Bank Of Canada

Huntsman (NYSE:HUN) had its price objective dropped by investment analysts at Royal Bank Of Canada from $10.00 to $9.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 11.75% from the company’s previous close.

A number of other research analysts have also weighed in on HUN. The Goldman Sachs Group set a $12.00 target price on shares of Huntsman in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price objective on shares of Huntsman from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $11.00 price target on shares of Huntsman in a research note on Thursday, August 20th. Weiss Ratings lowered shares of Huntsman from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, August 3rd. Finally, Citigroup decreased their target price on Huntsman from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.29.

Huntsman Stock Down 0.2%

NYSE:HUN traded down $0.02 during mid-day trading on Tuesday, reaching $8.05. The stock had a trading volume of 175,069 shares, compared to its average volume of 5,193,995. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.33 and a quick ratio of 0.78. The stock has a market cap of $1.41 billion, a P/E ratio of -7.75 and a beta of 0.80. Huntsman has a fifty-two week low of $7.30 and a fifty-two week high of $16.08. The business’s 50 day moving average is $9.42 and its 200 day moving average is $11.80.

Insider Activity at Huntsman

In related news, CEO Peter R. Huntsman purchased 100,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was bought at an average cost of $9.81 per share, with a total value of $981,000.00. Following the purchase, the chief executive officer directly owned 7,256,341 shares in the company, valued at $71,184,705.21. The trade was a 1.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is currently owned by company insiders.

Institutional Trading of Huntsman

A number of large investors have recently made changes to their positions in HUN. Versant Capital Management Inc raised its position in Huntsman by 166.7% in the 2nd quarter. Versant Capital Management Inc now owns 2,672 shares of the basic materials company’s stock valued at $28,000 after buying an additional 1,670 shares during the last quarter. Nykredit A S acquired a new stake in Huntsman in the second quarter valued at $32,000. Global Retirement Partners LLC bought a new position in Huntsman during the second quarter worth about $45,000. Allworth Financial LP bought a new position in shares of Huntsman during the 2nd quarter worth approximately $52,000. Finally, Essential Partners LLC boosted its position in Huntsman by 40.3% during the first quarter. Essential Partners LLC now owns 5,766 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 1,655 shares during the period. Institutional investors own 84.81% of the company’s stock.

Huntsman Company Profile

Huntsman Corporation (NYSE:HUN) is a global manufacturer of differentiated and commodity chemical products. Founded in 1970, the company serves customers in industries including construction, automotive, aerospace, energy, electronics, coatings, adhesives, and consumer products.

Huntsman’s product portfolio includes polyurethane chemicals such as methylene diphenyl diisocyanate, or MDI, and polyols; performance chemicals including amines and maleic anhydride; and advanced materials such as epoxy-based formulations, adhesives, and composite materials.