Barclays Lowers Eastman Chemical (NYSE:EMN) Price Target to $108.00

Eastman Chemical (NYSE:EMN) had its price objective cut by investment analysts at Barclays from $111.00 to $108.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price target would suggest a potential upside of 7.40% from the stock’s current price.

EMN has been the subject of several other research reports. Piper Sandler lowered their price objective on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $105.00 target price on shares of Eastman Chemical in a research report on Friday, November 22nd. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price target for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus target price of $112.85.

Eastman Chemical Trading Up 0.9 %

Shares of Eastman Chemical stock traded up $0.91 during trading hours on Monday, hitting $100.56. The company’s stock had a trading volume of 1,037,840 shares, compared to its average volume of 1,126,394. The business has a fifty day moving average of $94.80 and a 200 day moving average of $100.02. Eastman Chemical has a 1-year low of $80.89 and a 1-year high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $11.66 billion, a PE ratio of 13.08, a P/E/G ratio of 0.73 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. As a group, equities analysts forecast that Eastman Chemical will post 8.46 EPS for the current year.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. This represents a 50.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,021 shares of company stock worth $1,895,948. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Eastman Chemical

A number of large investors have recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical during the 4th quarter valued at $27,000. Wolff Wiese Magana LLC lifted its holdings in shares of Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Dunhill Financial LLC boosted its position in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares during the period. Stonebridge Financial Group LLC purchased a new position in Eastman Chemical in the 4th quarter worth about $37,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical during the 3rd quarter worth about $38,000. 83.65% of the stock is currently owned by institutional investors.

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.