KeyCorp Boosts Eastman Chemical (NYSE:EMN) Price Target to $128.00

Eastman Chemical (NYSE:EMN) had its price objective hoisted by analysts at KeyCorp from $121.00 to $128.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target would suggest a potential upside of 25.68% from the stock’s current price.

A number of other equities research analysts also recently commented on EMN. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 price target on shares of Eastman Chemical in a report on Friday, November 22nd. Piper Sandler decreased their price objective on Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Finally, StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and an average target price of $112.64.

Eastman Chemical Trading Up 1.0 %

Shares of EMN opened at $101.85 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. Eastman Chemical has a 1-year low of $80.89 and a 1-year high of $114.50. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. The firm has a 50 day simple moving average of $94.63 and a 200-day simple moving average of $100.07.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share 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 analysts forecast that Eastman Chemical will post 8.46 EPS for the current fiscal year.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $1,102,920.00. Following the sale, the executive vice president now owns 47,287 shares in the company, valued at $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eastman Chemical

Large investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC lifted its holdings in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Crews Bank & Trust bought a new position in Eastman Chemical during the fourth quarter worth $27,000. Dunhill Financial LLC boosted its holdings in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the period. Northwest Investment Counselors LLC bought a new stake in Eastman Chemical during the third quarter valued at $38,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $35,000. 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.