Eastman Chemical (NYSE:EMN – Get Rating) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Tuesday, The Fly reports.
A number of other equities analysts have also recently weighed in on EMN. UBS Group upped their price target on shares of Eastman Chemical from $96.00 to $108.00 in a research note on Wednesday, January 4th. The Goldman Sachs Group lifted their price target on shares of Eastman Chemical from $78.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, December 15th. Citigroup upped their price target on Eastman Chemical from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft cut Eastman Chemical from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $96.00 in a report on Monday, January 16th. Finally, Barclays upped their target price on Eastman Chemical from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Monday, January 30th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.67.
Eastman Chemical Stock Performance
Shares of EMN traded up $0.48 during mid-day trading on Tuesday, reaching $82.41. 870,040 shares of the company’s stock were exchanged, compared to its average volume of 1,041,827. The business’s fifty day simple moving average is $84.36 and its 200-day simple moving average is $82.76. Eastman Chemical has a 52-week low of $69.91 and a 52-week high of $113.34. The stock has a market capitalization of $9.82 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 0.58.
Eastman Chemical (NYSE:EMN – Get Rating) last released its quarterly earnings results on Friday, January 27th. The basic materials company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.37). Eastman Chemical had a return on equity of 17.82% and a net margin of 7.50%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the business earned $1.81 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities research analysts expect that Eastman Chemical will post 7.82 earnings per share for the current year.
Institutional Trading of Eastman Chemical
A number of hedge funds have recently made changes to their positions in the company. Addison Advisors LLC purchased a new stake in shares of Eastman Chemical during the third quarter worth about $25,000. Clear Street Markets LLC raised its position in shares of Eastman Chemical by 49.3% in the 3rd quarter. Clear Street Markets LLC now owns 403 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 133 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Eastman Chemical by 71.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 391 shares of the basic materials company’s stock valued at $33,000 after buying an additional 163 shares during the last quarter. Money Concepts Capital Corp increased its stake in shares of Eastman Chemical by 435.0% in the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock worth $35,000 after buying an additional 348 shares during the last quarter. Finally, Twin Lakes Capital Management LLC acquired a new stake in Eastman Chemical in the third quarter valued at $36,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.
About Eastman Chemical
Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Advanced Material (AM), Additives and Functional Products (AFP), Chemical Intermediates (CI), and Fibers. The AM segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets.