Eastman Chemical (NYSE:EMN) Stock Rating Upgraded by StockNews.com

Eastman Chemical (NYSE:EMN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $105.00 target price on shares of Eastman Chemical in a research report on Friday, November 22nd. Citigroup downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Mizuho boosted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $115.00 to $109.00 in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.92.

Eastman Chemical Trading Up 1.6 %

Shares of EMN stock opened at $93.22 on Friday. Eastman Chemical has a 12-month low of $80.71 and a 12-month high of $114.50. The company has a market capitalization of $10.81 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.62 and a beta of 1.44. The firm has a 50 day moving average price of $96.52 and a two-hundred day moving average price of $100.21. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.47 EPS. As a group, analysts predict that Eastman Chemical will post 7.61 earnings per share for the current year.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares of the company’s stock, valued at approximately $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,021 shares of company stock worth $1,895,948 over the last 90 days. Insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in Eastman Chemical by 262.7% in the 2nd quarter. Acadian Asset Management LLC now owns 2,006 shares of the basic materials company’s stock worth $195,000 after purchasing an additional 1,453 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Eastman Chemical by 1.6% in the second quarter. American Century Companies Inc. now owns 108,112 shares of the basic materials company’s stock valued at $10,592,000 after buying an additional 1,651 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Eastman Chemical by 190.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 61,918 shares of the basic materials company’s stock valued at $6,066,000 after buying an additional 40,620 shares during the last quarter. Amalgamated Bank raised its holdings in Eastman Chemical by 0.4% in the 2nd quarter. Amalgamated Bank now owns 38,081 shares of the basic materials company’s stock valued at $3,731,000 after buying an additional 168 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Eastman Chemical by 12.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,913 shares of the basic materials company’s stock worth $1,363,000 after buying an additional 1,574 shares during the period. 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.