Eastman Chemical Company (NYSE:EMN)‘s stock had its “hold” rating reissued by SunTrust Banks, Inc. in a note issued to investors on Thursday. They presently have a $90.00 price target on the basic materials company’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 1.86% from the company’s previous close. SunTrust Banks also issued estimates for Eastman Chemical’s Q4 2017 earnings at $1.26 EPS and FY2017 earnings at $7.17 EPS.

A number of other analysts have also recently commented on EMN. BidaskClub upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Jefferies Group LLC restated a “buy” rating and set a $90.00 price target on shares of Eastman Chemical in a research note on Friday, June 16th. Deutsche Bank AG restated a “buy” rating and set a $92.00 price target on shares of Eastman Chemical in a research note on Wednesday, June 21st. UBS AG restated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of Eastman Chemical in a research note on Sunday, June 25th. Finally, Zacks Investment Research upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Tuesday, July 4th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $93.00.

Shares of Eastman Chemical (NYSE EMN) traded up 0.24% during midday trading on Thursday, reaching $88.36. 829,089 shares of the company traded hands. Eastman Chemical has a 12-month low of $62.70 and a 12-month high of $91.39. The company has a 50-day moving average of $86.97 and a 200 day moving average of $83.17. The firm has a market capitalization of $12.80 billion, a PE ratio of 14.18 and a beta of 1.27.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.09. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Eastman Chemical had a net margin of 10.11% and a return on equity of 22.54%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share. On average, equities analysts forecast that Eastman Chemical will post $7.35 earnings per share for the current year.

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In related news, insider Mark K. Cox sold 1,400 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $84.24, for a total transaction of $117,936.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Renee J. Hornbaker sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $84.43, for a total transaction of $337,720.00. Following the sale, the director now directly owns 21,858 shares in the company, valued at approximately $1,845,470.94. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. RNC Capital Management LLC increased its holdings in Eastman Chemical by 0.5% during the 2nd quarter. RNC Capital Management LLC now owns 3,278 shares of the basic materials company’s stock worth $275,000 after acquiring an additional 15 shares during the period. Veritable L.P. increased its holdings in Eastman Chemical by 1.0% during the 2nd quarter. Veritable L.P. now owns 2,776 shares of the basic materials company’s stock worth $233,000 after acquiring an additional 27 shares during the period. Cleararc Capital Inc. increased its holdings in Eastman Chemical by 1.3% during the 1st quarter. Cleararc Capital Inc. now owns 3,595 shares of the basic materials company’s stock worth $290,000 after acquiring an additional 46 shares during the period. HL Financial Services LLC increased its holdings in Eastman Chemical by 0.4% during the 2nd quarter. HL Financial Services LLC now owns 11,253 shares of the basic materials company’s stock worth $945,000 after acquiring an additional 49 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Eastman Chemical by 1.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,150 shares of the basic materials company’s stock worth $349,000 after acquiring an additional 50 shares during the period. 82.13% of the stock is currently owned by institutional investors and hedge funds.

About Eastman Chemical

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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