Eastman Chemical (NYSE:EMN) PT Raised to $103.00 at Barclays

Eastman Chemical (NYSE:EMN) had its target price hoisted by stock analysts at Barclays from $85.00 to $103.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective would suggest a potential upside of 2.34% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group increased their price target on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Stifel Nicolaus dropped their price target on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Citigroup increased their price objective on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada boosted their target price on shares of Eastman Chemical from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Tuesday, April 30th. Finally, KeyCorp increased their price target on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $104.18.

Eastman Chemical Stock Up 1.9 %

Shares of NYSE EMN opened at $100.64 on Monday. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.39 and a quick ratio of 0.71. The firm has a market cap of $11.84 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. The company has a 50 day simple moving average of $95.55 and a 200 day simple moving average of $87.76.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The company had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. Eastman Chemical’s revenue was down 4.2% compared to the same quarter last year. On average, research analysts forecast that Eastman Chemical will post 7.75 EPS for the current year.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Eastman Chemical by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 14,839,723 shares of the basic materials company’s stock worth $1,332,904,000 after buying an additional 61,580 shares in the last quarter. Putnam Investments LLC grew its stake in shares of Eastman Chemical by 4.0% in the 4th quarter. Putnam Investments LLC now owns 4,355,408 shares of the basic materials company’s stock worth $391,203,000 after acquiring an additional 168,038 shares in the last quarter. Morgan Stanley raised its holdings in shares of Eastman Chemical by 1.0% in the third quarter. Morgan Stanley now owns 3,978,856 shares of the basic materials company’s stock valued at $305,258,000 after purchasing an additional 39,860 shares during the last quarter. Invesco Ltd. lifted its position in shares of Eastman Chemical by 37.4% during the third quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company’s stock valued at $214,496,000 after purchasing an additional 760,974 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Eastman Chemical by 7.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,575,783 shares of the basic materials company’s stock worth $231,357,000 after purchasing an additional 168,009 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.