Stock analysts at Tudor Pickering began coverage on shares of Eastman Chemical Company (NYSE:EMN) in a report released on Tuesday, The Fly reports. The brokerage set a “hold” rating on the basic materials company’s stock.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Nomura downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and set a $91.00 price objective for the company. in a research report on Tuesday, October 10th. UBS AG increased their price objective on Eastman Chemical from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Deutsche Bank AG increased their price objective on Eastman Chemical from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, BidaskClub downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Ten investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Eastman Chemical has a consensus rating of “Hold” and an average target price of $96.00.

Eastman Chemical (NYSE:EMN) traded up $0.68 on Tuesday, reaching $91.43. The company’s stock had a trading volume of 870,800 shares, compared to its average volume of 1,157,998. The firm has a market capitalization of $13,043.90, a P/E ratio of 12.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94. Eastman Chemical has a 12-month low of $73.52 and a 12-month high of $94.96.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.16. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 22.77% and a net margin of 10.89%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 earnings per share. research analysts predict that Eastman Chemical will post 7.13 earnings per share for the current fiscal year.

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In other news, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Renee J. Hornbaker sold 4,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 21,858 shares in the company, valued at $1,845,470.94. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new position in shares of Eastman Chemical in the first quarter worth $100,000. Global X Management Co. LLC increased its position in Eastman Chemical by 95.4% during the third quarter. Global X Management Co. LLC now owns 1,538 shares of the basic materials company’s stock worth $104,000 after buying an additional 751 shares during the last quarter. FTB Advisors Inc. increased its position in Eastman Chemical by 17.4% during the first quarter. FTB Advisors Inc. now owns 1,342 shares of the basic materials company’s stock worth $107,000 after buying an additional 199 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in Eastman Chemical during the first quarter worth $108,000. Finally, NEXT Financial Group Inc increased its position in Eastman Chemical by 3.0% during the third quarter. NEXT Financial Group Inc now owns 1,713 shares of the basic materials company’s stock worth $116,000 after buying an additional 50 shares during the last quarter. 83.32% 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.

The Fly

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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