Eastman Chemical (NYSE:EMN) Given New $117.00 Price Target at Mizuho

Eastman Chemical (NYSE:EMN) had its target price hoisted by Mizuho from $113.00 to $117.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research report on Friday, November 22nd. Piper Sandler reissued a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $110.00 to $125.00 in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.86.

Eastman Chemical Trading Down 0.9 %

NYSE EMN opened at $104.92 on Tuesday. Eastman Chemical has a one year low of $80.71 and a one year high of $114.50. 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 company has a market capitalization of $12.16 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company’s 50-day simple moving average is $106.44 and its two-hundred day simple moving average is $101.62.

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

Insider Buying and Selling

In related news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.93% of the stock is currently owned by company insiders.

Institutional Trading of Eastman Chemical

Institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. increased 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 worth $262,000 after acquiring an additional 96 shares during the period. V Square Quantitative Management LLC grew its position 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 purchasing an additional 98 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of 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 valued at $394,000 after buying an additional 111 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of 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. Finally, Prosperity Consulting Group LLC boosted its stake in shares of Eastman Chemical by 4.8% in the second quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after buying an additional 123 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.