Shares of Eastman Chemical Company (NYSE:EMN) have received an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $96.14.

Several equities analysts have recently commented on the stock. SunTrust Banks reissued a “hold” rating and issued a $90.00 target price on shares of Eastman Chemical in a report on Thursday, October 12th. Jefferies Group reissued a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Goldman Sachs Group raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $81.00 to $101.00 in a report on Thursday, September 28th. Finally, KeyCorp reissued a “buy” rating and issued a $100.00 target price on shares of Eastman Chemical in a report on Thursday, August 24th.

In related news, SVP Perry Stuckey sold 5,200 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.14% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC bought a new position in Eastman Chemical during the third quarter valued at $113,000. Advisors Asset Management Inc. increased its position in Eastman Chemical by 149.9% during the second quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock valued at $116,000 after acquiring an additional 826 shares during the last quarter. Acrospire Investment Management LLC increased its position in Eastman Chemical by 1,500.0% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock valued at $134,000 after acquiring an additional 1,500 shares during the last quarter. Psagot Investment House Ltd. increased its position in Eastman Chemical by 60.0% during the third quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock valued at $145,000 after acquiring an additional 600 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in Eastman Chemical by 62.9% during the second quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 82.66% of the company’s stock.

Eastman Chemical (NYSE:EMN) opened at $90.61 on Thursday. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24. Eastman Chemical has a 1-year low of $74.78 and a 1-year high of $94.96. The firm has a market cap of $13,137.33, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.31.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.16. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the firm earned $1.86 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. equities research analysts forecast that Eastman Chemical will post 7.13 EPS for the current fiscal year.

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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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