Huntsman (NYSE:HUN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “Annual estimates for Huntsman have been going down of late. The company faces headwinds from higher raw material cost and significant plant outages. Benefits of short-term margin spike is also expected to reduce in its MDI business. The company has also underperformed the industry it belongs to over the past six months.”
HUN has been the topic of several other reports. Alembic Global Advisors set a $40.00 price objective on shares of Huntsman and gave the stock a “buy” rating in a report on Tuesday, October 30th. KeyCorp decreased their price objective on shares of Huntsman from $36.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 3rd. Nomura decreased their price objective on shares of Huntsman from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday, October 15th. Barclays decreased their price objective on shares of Huntsman from $29.00 to $22.00 and set an “underweight” rating on the stock in a report on Thursday, November 1st. Finally, Citigroup decreased their price objective on shares of Huntsman from $30.00 to $25.50 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.05.
Huntsman stock opened at $22.77 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.51. Huntsman has a 1-year low of $17.58 and a 1-year high of $34.92. The company has a market capitalization of $5.36 billion, a PE ratio of 9.18, a PEG ratio of 0.81 and a beta of 2.25.
In other Huntsman news, CEO Peter R. Huntsman bought 25,000 shares of Huntsman stock in a transaction on Thursday, November 29th. The shares were bought at an average cost of $19.90 per share, for a total transaction of $497,500.00. Following the acquisition, the chief executive officer now directly owns 4,956,349 shares in the company, valued at $98,631,345.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rohit Aggarwal sold 7,321 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $23.50, for a total transaction of $172,043.50. Following the sale, the insider now owns 33,646 shares in the company, valued at $790,681. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 39,500 shares of company stock worth $770,200. Company insiders own 10.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. acquired a new stake in Huntsman during the 4th quarter worth approximately $27,000. IFP Advisors Inc lifted its holdings in Huntsman by 30.5% during the 4th quarter. IFP Advisors Inc now owns 2,069 shares of the basic materials company’s stock worth $39,000 after buying an additional 484 shares in the last quarter. First Interstate Bank lifted its holdings in Huntsman by 215.6% during the 4th quarter. First Interstate Bank now owns 2,200 shares of the basic materials company’s stock worth $42,000 after buying an additional 1,503 shares in the last quarter. Huntington National Bank acquired a new stake in Huntsman during the 4th quarter worth approximately $47,000. Finally, Willingdon Wealth Management acquired a new stake in Huntsman during the 3rd quarter worth approximately $118,000. Institutional investors own 76.54% of the company’s stock.
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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