Instinet Reaffirms “Buy” Rating for Huntsman Corporation (HUN)

Huntsman Corporation (NYSE:HUN)‘s stock had its “buy” rating restated by Instinet in a research note issued on Wednesday. They presently have a $34.00 target price on the basic materials company’s stock, up from their prior target price of $30.00. Instinet’s target price would indicate a potential upside of 20.18% from the stock’s current price.

HUN has been the subject of a number of other reports. BidaskClub upgraded Huntsman Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. KeyCorp reiterated a “buy” rating and issued a $34.00 target price on shares of Huntsman Corporation in a research note on Friday, September 1st. ValuEngine upgraded Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Huntsman Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research upgraded Huntsman Corporation from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research note on Thursday, August 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $30.33.

Huntsman Corporation (HUN) traded down 1.84% during mid-day trading on Wednesday, hitting $27.77. The stock had a trading volume of 1,137,231 shares. The firm has a market cap of $6.67 billion, a P/E ratio of 15.74 and a beta of 2.79. Huntsman Corporation has a 12-month low of $14.75 and a 12-month high of $28.67. The stock has a 50-day moving average price of $26.42 and a 200 day moving average price of $25.20.

Huntsman Corporation (NYSE:HUN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.18. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.64 billion. Huntsman Corporation had a return on equity of 30.04% and a net margin of 4.33%. Huntsman Corporation’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Equities analysts anticipate that Huntsman Corporation will post $2.30 EPS for the current fiscal year.

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In related news, VP Randy W. Wright sold 56,675 shares of Huntsman Corporation stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $25.76, for a total transaction of $1,459,948.00. Following the completion of the sale, the vice president now owns 66,023 shares of the company’s stock, valued at $1,700,752.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Randy W. Wright sold 32,962 shares of Huntsman Corporation stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $25.75, for a total value of $848,771.50. Following the sale, the vice president now directly owns 69,148 shares of the company’s stock, valued at approximately $1,780,561. The disclosure for this sale can be found here. Insiders own 19.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Paulson & CO. Inc. purchased a new position in Huntsman Corporation during the second quarter valued at approximately $336,000. USA Financial Portformulas Corp purchased a new position in Huntsman Corporation during the second quarter valued at approximately $527,000. Sterling Capital Management LLC raised its position in Huntsman Corporation by 90.7% during the second quarter. Sterling Capital Management LLC now owns 65,515 shares of the basic materials company’s stock valued at $1,693,000 after acquiring an additional 31,151 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Huntsman Corporation by 9.1% during the second quarter. The Manufacturers Life Insurance Company now owns 7,281 shares of the basic materials company’s stock valued at $188,000 after acquiring an additional 610 shares in the last quarter. Finally, Caxton Associates LP raised its position in Huntsman Corporation by 74.7% during the second quarter. Caxton Associates LP now owns 454,311 shares of the basic materials company’s stock valued at $11,739,000 after acquiring an additional 194,311 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

About Huntsman Corporation

Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.

Analyst Recommendations for Huntsman Corporation (NYSE:HUN)

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