Unusual options trading on Huntsman Corporation (NYSE:HUN) stock

Posted by Peter Lauro September 17, 2013 0 Comment 1062 views


Huntsman Corp. (NYSE:HUN) shares witness unusual option-trading activity on Monday. Investors bought 26,996 call-options on the company’s stock. This is a rise of around 425% in comparison to the average-volume of 5,143 call-options. Recently, the company has been weighed in by numerous research analysts.

Analysts’ ratings

Jefferies Group analysts upgraded the shares from a “hold” to a “buy” rating on Monday and have assigned a price-target of $26.00 on the stock which is higher than the $20 that it stood at earlier. KeyCorp analysts upgraded the company’s shares from a “hold” to a “buy” on Friday while Macquarie analysts upgraded the company’s share from “neutral” to an “outperform” rating on 19 August and have now assigned a $21 price-target on the stock. They have noted that this was a valuation-call.

One research analyst has assigned a “sell” rating on the stock, 2 have assigned a “hold” rating and 6 have assigned a “buy” rating. The average rating is currently a “buy” and the average target-price is $20.71.

Quarterly earnings

The company posted its earnings for the quarter on 31 July. It reported earnings per share of $0.39 for the quarter which was in line with the average analysts’ estimate of $0.39. The revenue for the quarter came in at $2.83B in comparison with the average analyst estimate of $2.82B. In the same quarter in 2012, Huntsman Corporation (NYSE:HUN) posted earnings per share of $0.58. Its revenue for the quarter dipped 2.9% on a y-o-y basis. On an average, analysts project that the company will post earnings per share of $1.54 for the 2013 fiscal year.

In Monday’s trading, Huntsman Corporation (NYSE:HUN) stock dipped 0.67%. The shares opened at a price of $19.87, climbed to an intraday high of $20.50 and dipped to close at $19.14. Approximately 12.40 million shares were traded on Monday while the average volume of shares traded over a 30 day period was 2.12 million.


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