Eastman Chemical (NYSE:EMN) Price Target Raised to $100.00

Eastman Chemical (NYSE:EMN) had its price target hoisted by equities research analysts at Wells Fargo & Company from $89.00 to $100.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 2.06% from the stock’s current price.

EMN has been the subject of several other reports. The Goldman Sachs Group upped their price objective on Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a research note on Thursday, December 14th. Royal Bank of Canada reduced their price target on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. UBS Group boosted their price objective on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Wednesday, December 13th. Finally, Stifel Nicolaus lowered their price target on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.13.

Eastman Chemical Trading Down 2.0 %

Shares of NYSE:EMN opened at $97.98 on Thursday. The stock’s 50-day simple moving average is $91.34 and its two-hundred day simple moving average is $84.90. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.11 and a beta of 1.54. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $102.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. Analysts expect that Eastman Chemical will post 7.7 EPS for the current year.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.93% of the company’s stock.

Institutional Trading of Eastman Chemical

Large investors have recently made changes to their positions in the business. First Command Advisory Services Inc. purchased a new position in Eastman Chemical in the third quarter worth about $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $26,000. Pacifica Partners Inc. bought a new stake in shares of Eastman Chemical in the 3rd quarter valued at approximately $28,000. Cornerstone Planning Group LLC purchased a new position in shares of Eastman Chemical in the 2nd quarter worth approximately $33,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Eastman Chemical during the 1st quarter valued at approximately $34,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.