Eastman Chemical (NYSE:EMN) Upgraded at StockNews.com

StockNews.com upgraded shares of Eastman Chemical (NYSE:EMN) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Other research analysts also recently issued reports about the stock. Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their target price for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. Barclays lifted their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered their price objective on Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their target price on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $111.50.

Eastman Chemical Stock Performance

Shares of EMN opened at $101.61 on Thursday. The stock has a 50-day moving average of $106.07 and a two-hundred day moving average of $101.38. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The stock has a market cap of $11.78 billion, a P/E ratio of 13.60, a P/E/G ratio of 0.77 and a beta of 1.44. Eastman Chemical has a one year low of $80.14 and a one year high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Eastman Chemical’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, research analysts predict that Eastman Chemical will post 7.63 EPS for the current year.

Insider Activity at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now directly owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.93% of the stock is currently owned by corporate insiders.

Institutional Trading of Eastman Chemical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its holdings in Eastman Chemical by 4.3% in the 3rd quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 96 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Eastman Chemical by 3.8% during the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after buying an additional 98 shares during the period. Lcnb Corp raised its holdings in shares of Eastman Chemical by 1.7% in the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after buying an additional 103 shares during the period. Kingswood Wealth Advisors LLC lifted its stake in Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 111 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in Eastman Chemical by 3.3% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after acquiring an additional 111 shares during the period. 83.65% of the stock is currently owned by hedge funds and other 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.