KeyCorp Trims Huntsman (HUN) Target Price to $36.00

Huntsman (NYSE:HUN) had its price objective lowered by investment analysts at KeyCorp from $42.00 to $36.00 in a report issued on Wednesday, The Fly reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s target price would indicate a potential upside of 64.53% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Huntsman from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, July 16th. Citigroup boosted their price target on shares of Huntsman from $42.50 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 11th. MED reiterated a “buy” rating on shares of Huntsman in a research report on Monday, September 17th. Seaport Global Securities initiated coverage on shares of Huntsman in a research report on Friday, August 24th. They issued a “buy” rating on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $38.00 price target on shares of Huntsman in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Huntsman has an average rating of “Hold” and a consensus target price of $35.46.

Shares of Huntsman stock opened at $21.88 on Wednesday. The company has a current ratio of 1.93, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. Huntsman has a 52 week low of $19.26 and a 52 week high of $36.09. The stock has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 0.72 and a beta of 2.69.

Huntsman (NYSE:HUN) last issued its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. Huntsman had a net margin of 9.88% and a return on equity of 23.31%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the business earned $0.67 earnings per share. Huntsman’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts predict that Huntsman will post 3.5 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. FTB Advisors Inc. acquired a new position in shares of Huntsman in the 2nd quarter valued at about $114,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Huntsman in the 2nd quarter valued at about $122,000. Clear Harbor Asset Management LLC acquired a new position in shares of Huntsman in the 3rd quarter valued at about $200,000. Point72 Hong Kong Ltd increased its holdings in shares of Huntsman by 46.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,038 shares of the basic materials company’s stock valued at $206,000 after purchasing an additional 2,235 shares during the period. Finally, Chemical Bank acquired a new position in shares of Huntsman in the 2nd quarter valued at about $219,000. Institutional investors own 77.47% of the company’s stock.

Huntsman Company Profile

Huntsman Corporation, through its subsidiary, Huntsman International LLC, manufactures and sells differentiated organic chemical products worldwide. The company operates in 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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