Eastman Chemical (NYSE:EMN) Price Target Raised to $102.00

Eastman Chemical (NYSE:EMN) had its price objective hoisted by equities research analysts at Mizuho from $91.00 to $102.00 in a report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. Mizuho’s price target points to a potential upside of 6.74% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Redburn Atlantic started coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They set a “buy” rating and a $110.00 price objective for the company. Stifel Nicolaus lowered their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Wells Fargo & Company upped their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. UBS Group upped their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, KeyCorp upped their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus price target of $99.31.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $95.56 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $11.24 billion, a PE ratio of 12.31, a P/E/G ratio of 1.06 and a beta of 1.54. The firm has a fifty day simple moving average of $93.98 and a two-hundred day simple moving average of $86.39. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $102.71.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.95%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts expect that Eastman Chemical will post 7.71 EPS for the current year.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.93% of the company’s stock.

Institutional Investors Weigh In On Eastman Chemical

A number of hedge funds and other institutional investors have recently bought and sold shares of EMN. Quadrant Capital Group LLC grew its holdings in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock valued at $147,000 after buying an additional 128 shares during the last quarter. Tucker Asset Management LLC grew its holdings in shares of Eastman Chemical by 19.5% during the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after buying an additional 142 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in shares of Eastman Chemical by 4.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock valued at $310,000 after buying an additional 151 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Eastman Chemical by 26.2% during the third quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock valued at $62,000 after buying an additional 169 shares during the last quarter. Finally, Steph & Co. grew its holdings in shares of Eastman Chemical by 12.8% during the third quarter. Steph & Co. now owns 1,765 shares of the basic materials company’s stock valued at $135,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.