Wells Fargo & Company Issues Pessimistic Forecast for Huntsman (NYSE:HUN) Stock Price

Huntsman (NYSE:HUN) had its price objective lowered by Wells Fargo & Company from $14.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 9.34% from the stock’s previous close.

Other research analysts have also issued reports about the company. UBS Group decreased their target price on Huntsman from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup raised their price target on Huntsman from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Morgan Stanley increased their price objective on shares of Huntsman from $11.00 to $15.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 5th. Jefferies Financial Group set a $16.00 price target on shares of Huntsman in a research note on Friday. Finally, Mizuho lowered their price target on shares of Huntsman from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.83.

Huntsman Price Performance

Shares of NYSE HUN opened at $10.06 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.27 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average price is $12.57 and its two-hundred day moving average price is $12.80. The company has a market cap of $1.76 billion, a PE ratio of -9.80 and a beta of 0.69. Huntsman has a twelve month low of $7.30 and a twelve month high of $16.08.

Insider Activity at Huntsman

In other Huntsman news, CEO Peter R. Huntsman purchased 100,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $9.81 per share, with a total value of $981,000.00. Following the completion of the transaction, the chief executive officer owned 7,256,341 shares in the company, valued at $71,184,705.21. The trade was a 1.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in shares of Huntsman by 166.7% in the second 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 in the last quarter. Advisory Services Network LLC acquired a new stake in Huntsman during the third quarter worth approximately $58,000. Caitong International Asset Management Co. Ltd grew its position in Huntsman by 121.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 6,751 shares of the basic materials company’s stock worth $61,000 after buying an additional 3,706 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Huntsman by 1,005.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 6,514 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 5,925 shares during the period. Finally, Platinum Investment Management Ltd. acquired a new position in Huntsman in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

About Huntsman

Huntsman Corporation is a global manufacturer and marketer of specialty chemicals with headquarters in The Woodlands, Texas. Founded in 1970 by entrepreneur Jon Huntsman Sr., the company has grown through strategic acquisitions and organic expansion to establish a broad portfolio of products serving diverse end markets. Huntsman maintains a presence in more than 30 countries, operating manufacturing facilities across North America, Europe, Asia-Pacific, Latin America and the Middle East.

The company organizes its operations into several core business segments, including Polyurethanes, Performance Products, Advanced Materials, and Textile Effects.