Barclays Lowers Eastman Chemical (NYSE:EMN) Price Target to $108.00

Eastman Chemical (NYSE:EMN) had its price target decreased by analysts at Barclays from $111.00 to $108.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective points to a potential upside of 6.04% from the company’s current price.

Several other brokerages have also recently issued reports on EMN. KeyCorp increased their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday. Piper Sandler dropped their price objective on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Mizuho lifted their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Finally, Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.64.

Eastman Chemical Stock Up 1.0 %

Shares of EMN opened at $101.85 on Monday. The firm has a market capitalization of $11.80 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.73 and a beta of 1.44. Eastman Chemical has a 12-month low of $80.89 and a 12-month high of $114.50. The firm has a fifty day moving average price of $94.63 and a 200-day moving average price of $100.07. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. Equities research analysts expect that Eastman Chemical will post 8.46 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical 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 in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is owned by company insiders.

Institutional Trading of Eastman Chemical

Several institutional investors have recently added to or reduced their stakes in EMN. UMB Bank n.a. boosted its stake in shares of Eastman Chemical by 4.3% in the third 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 period. V Square Quantitative Management LLC lifted its holdings in Eastman Chemical by 3.8% during the 3rd 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 in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Eastman Chemical by 3.3% in 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 buying an additional 111 shares during the period. Blue Trust Inc. grew its stake in Eastman Chemical by 2.2% during the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 116 shares in the last quarter. Finally, RKL Wealth Management LLC increased its stake in shares of Eastman Chemical by 0.9% during the third quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company’s stock worth $1,520,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds 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.