RBC Capital took its Huntsman [HUN] rating to the equivalent of Outperform from Sector Perform, and the price target to $34.0 from $25, in a research note dated 2021-01-08. That figure represents around a 19.93% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Scotiabank’s analysts upgrading the shares from “a Sector perform” rating to “a Sector outperform” rating in a research note to investors issued in late October. Meanwhile, Deutsche Bank had launched its coverage on HUN with “Buy”, in a research note produced for clients October 15, 2020. In addition, there was an upgrade from Morgan Stanley on September 30, 2020. The rater changed HUN from “an Equal-weight” to “an Overweight”.
Is Huntsman Corporation [NYSE:HUN] a Good Buy Right Now?
It should be noted that HUN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 80% Buy in the last week and compares with 100% Buy in the past month. Data from Huntsman Corporation’s Trend Spotter indicated that the signals were Strongest. The stock current average is 1.35 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.59 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.59 million shares.
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HUN Price Performance
On Wall Street, Huntsman Corporation [NYSE:HUN] finished Thursday’s session up 1.32% at $28.33. The stock went up to $28.73 at the same session while its lowest single day price was $27.90. In the last five days, it saw a rise of about 11.80%, Huntsman Corporation shares gained by almost 12.69% since the beginning of the year. However, the share price has dropped to as low as 0.00% below its one year high. On 01/07/21, the company shares recorded $28.73, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $24.81. The company’s shares have inclined by 23.82% in the past year. The 50-day SMA achieved is $25.20 while the 200-day SMA is $20.72. Volume dropped to 1.68 million from 3.03 million in the previous session.
Huntsman Corporation [HUN] Valuation Measures
Notably, Huntsman Corporation [HUN] stock cannot be classified as a good candidate in the listing of underestimated low-priced Chemicals companies to purchase soonest possible with the prevailing 12-month PE ratio of 39.24. The measure means the stock is exchanging at a premium as compared to the 23.66x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.05 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 1.38 which means HUN serve an unattractive investment opportunity compared to its competitors.
HUN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 27.91 level, and in case of violation of this particular level, it will cause more drop to 27.49 level. On the upper level, 29.15 is still the key resistance. The stock may increase to the subsequent resistance at 28.74. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.65, implying a neutral technical stance while the MACD stands at 1.60, meaning price will increase in the next trading period. Percent R indicator moved to 9.66%, implying bullish price movement. Stochastic %K at 88.39% suggest selling the stock.
What is the short interest in Huntsman Corporation?
Short interest in the Huntsman Corporation stock has plunged, decreasing by -0.3 million shares to total 2.79 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.49 million, data from Yahoo Finance shows. The increase of 10.75% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.58% of the overall float for the stock.
Huntsman Corporation’s Biggest Shareholders: Who Owns Huntsman Corporation [HUN]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 20,155,303 shares or roughly 9.13% of the outstanding HUN shares. This means their shares have reduced by -1,283,805 from the 20,155,303 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Capital Research & Management Co updated stake is worth $367,951,761. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -3.53% stake valued at $262,391,681 while LSV Asset Management cut theirs at $233,470,725. During the last quarter, BlackRock Fund Advisors liquidated -387,180 of its shares in Huntsman Corporation while LSV Asset Management sold -700,821 shares. The Dimensional Fund Advisors LP’s holdings currently number 8,651,451 shares at $245095606.83. According to the firm’s last 13F report, Yacktman Asset Management LP shares in the company at filing stood at 6,843,665 shares, roughly $169,517,582.
HUN Earnings Forecast For The Current Quarter
Huntsman Corporation [HUN] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.63B and an earnings per share of $0.44 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.62B at an EPS of $0.45 for Mar 2021. The estimates represent downside of 13.20% and 109.82% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
HUN Earnings Estimates For The Current Year
For the financial year, Huntsman Corporation [NYSE:HUN] is expected to bring in revenue of $6.02B. The returns are nearly $-780.0 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.92, lower than that of FY19 by -$0.61. Estimates put this year’s earnings growth at -39.90%, 106.50% for the next, and at an annual 11.39% over the next 5-year period. As for sales, forecasts are for a decrease of -11.50% in the current fiscal year and a further 13.20% over the following year.