Huntsman (NYSE:HUN) Price Target Cut to $11.00 by Analysts at JPMorgan Chase & Co.

Huntsman (NYSE:HUN) had its price objective cut by analysts at JPMorgan Chase & Co. from $20.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.43% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Huntsman in a report on Wednesday, October 8th. Jefferies Financial Group dropped their price target on Huntsman from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 10th. Citigroup reduced their price target on Huntsman from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company dropped their target price on shares of Huntsman from $13.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 5th. Finally, Mizuho decreased their price target on Huntsman from $9.00 to $8.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $10.00.

Huntsman Trading Up 4.7%

Shares of HUN traded up $0.39 during mid-day trading on Monday, reaching $8.57. The company had a trading volume of 3,121,554 shares, compared to its average volume of 4,228,871. The company has a current ratio of 1.43, a quick ratio of 0.85 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -4.39 and a beta of 0.68. The firm has a fifty day simple moving average of $9.30 and a 200-day simple moving average of $10.52. 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) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Huntsman will post 0.32 EPS for the current fiscal year.

Institutional Trading of Huntsman

Hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. increased its position in shares of Huntsman by 21.7% in the third quarter. Citigroup Inc. now owns 312,015 shares of the basic materials company’s stock worth $2,802,000 after purchasing an additional 55,693 shares during the period. Garner Asset Management Corp acquired a new stake in Huntsman in the third quarter valued at approximately $120,000. AMG National Trust Bank increased its holdings in shares of Huntsman by 1.1% during the third quarter. AMG National Trust Bank now owns 162,513 shares of the basic materials company’s stock worth $1,459,000 after buying an additional 1,769 shares in the last quarter. Pzena Investment Management LLC raised its position in Huntsman by 1.6% in the third quarter. Pzena Investment Management LLC now owns 5,393,866 shares of the basic materials company’s stock valued at $48,437,000 after purchasing an additional 83,098 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in Huntsman by 40.2% in the 3rd quarter. GSA Capital Partners LLP now owns 92,170 shares of the basic materials company’s stock valued at $828,000 after buying an additional 26,419 shares during the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

About Huntsman

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.