Eastman Chemical Company (NYSE:EMN) had its price target lifted by J P Morgan Chase & Co from $95.00 to $105.00 in a research note issued to investors on Monday, October 30th. They currently have an overweight rating on the basic materials company’s stock.
Several other equities analysts also recently commented on EMN. Zacks Investment Research raised shares of Eastman Chemical from a hold rating to a buy rating and set a $94.00 price objective for the company in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a buy rating and issued a $90.00 price target on shares of Eastman Chemical in a research note on Wednesday, July 5th. Citigroup Inc. increased their price target on shares of Eastman Chemical from $81.00 to $89.00 and gave the stock a neutral rating in a research note on Wednesday, July 12th. Cowen and Company reissued a buy rating and issued a $88.00 price target on shares of Eastman Chemical in a research note on Friday, July 14th. Finally, BidaskClub cut shares of Eastman Chemical from a buy rating to a hold rating in a report on Friday, July 28th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $96.00.
Eastman Chemical (NYSE:EMN) traded down $0.41 during trading on Monday, reaching $89.74. 1,590,904 shares of the company’s stock traded hands, compared to its average volume of 1,163,075. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94. The company has a market capitalization of $12,960.00, a P/E ratio of 12.02, a PEG ratio of 1.54 and a beta of 1.31. Eastman Chemical has a 1-year low of $73.52 and a 1-year high of $94.96.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, beating the consensus estimate 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 net margin of 10.89% and a return on equity of 22.77%. The company’s quarterly revenue 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. analysts predict that Eastman Chemical will post 7.13 earnings per share for the current year.
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In other news, Director Renee J. Hornbaker sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Perry Stuckey sold 5,200 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total transaction of $479,024.00. The disclosure for this sale can be found here. 1.14% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. grew its stake in shares of Eastman Chemical by 149.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock worth $116,000 after buying an additional 826 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Eastman Chemical by 1,500.0% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock worth $134,000 after buying an additional 1,500 shares in the last quarter. Psagot Investment House Ltd. grew its stake in shares of Eastman Chemical by 60.0% in the 3rd quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock worth $145,000 after buying an additional 600 shares in the last quarter. M&R Capital Management Inc. grew its stake in shares of Eastman Chemical by 62.9% in the 2nd quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock worth $150,000 after buying an additional 700 shares in the last quarter. Finally, Fiduciary Trust Co. purchased a new position in shares of Eastman Chemical in the 2nd quarter worth $160,000. 83.32% of the stock is owned by institutional investors.
Eastman Chemical Company Profile
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.
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