Eastman Chemical (NYSE:EMN) PT Raised to $100.00

Eastman Chemical (NYSE:EMN) had its price target increased by analysts at Royal Bank of Canada from $89.00 to $100.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 3.71% from the stock’s current price.

Several other research firms have also recently weighed in on EMN. UBS Group boosted their target price on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Redburn Atlantic assumed coverage on shares of Eastman Chemical in a research report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price objective on the stock. KeyCorp boosted their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Citigroup raised their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company boosted their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.81.

Eastman Chemical Trading Up 0.4 %

Shares of NYSE:EMN opened at $96.42 on Friday. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71. The company’s 50 day moving average is $92.72 and its two-hundred day moving average is $85.69. The company has a market cap of $11.34 billion, a PE ratio of 12.87, a P/E/G ratio of 1.06 and a beta of 1.54. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. Equities analysts predict that Eastman Chemical will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors and hedge funds have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical during the 1st quarter valued at about $34,000. First Command Advisory Services Inc. purchased a new position in shares of Eastman Chemical during the 3rd quarter worth about $26,000. Cornerstone Planning Group LLC acquired a new stake in shares of Eastman Chemical in the second quarter worth approximately $33,000. Finally, Sound Income Strategies LLC increased its position in Eastman Chemical by 213.8% during the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Company Profile

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.