Eastman Chemical (NYSE:EMN) had its price target increased by Barclays from $100.00 to $108.00 in a research report released on Monday, February 5th. They currently have an equal weight rating on the basic materials company’s stock.
EMN has been the topic of a number of other research reports. UBS Group upped their target price on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a buy rating in a report on Friday, October 27th. Royal Bank of Canada restated a sector perform rating and issued a $93.00 target price (up previously from $91.00) on shares of Eastman Chemical in a report on Monday, October 30th. Tudor Pickering started coverage on shares of Eastman Chemical in a research report on Tuesday, November 14th. They issued a hold rating for the company. Cowen reaffirmed an outperform rating and issued a $106.00 price objective (up from $92.00) on shares of Eastman Chemical in a research report on Friday, December 8th. Finally, Zacks Investment Research downgraded shares of Eastman Chemical from a buy rating to a hold rating in a research report on Friday, January 12th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $101.73.
Eastman Chemical (EMN) traded down $0.53 during mid-day trading on Monday, reaching $96.99. 160,646 shares of the company traded hands, compared to its average volume of 1,370,837. The firm has a market capitalization of $14,020.00, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.36 and a beta of 1.33. 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 $76.02 and a 1-year high of $104.08.
Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.56. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.67%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business earned $1.51 earnings per share. Eastman Chemical’s revenue for the quarter was up 8.0% on a year-over-year basis. equities analysts anticipate that Eastman Chemical will post 8.47 earnings per share for the current year.
In other Eastman Chemical news, CEO Mark J. Costa sold 55,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $98.26, for a total value of $5,404,300.00. Following the sale, the chief executive officer now directly owns 212,991 shares in the company, valued at approximately $20,928,495.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Damon Cary Warmack sold 4,417 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $98.60, for a total transaction of $435,516.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,417 shares of company stock valued at $6,239,176. 1.14% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. RNC Capital Management LLC grew its holdings in shares of Eastman Chemical by 0.5% during the 2nd quarter. RNC Capital Management LLC now owns 3,278 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 15 shares during the last quarter. Moors & Cabot Inc. grew its holdings in Eastman Chemical by 6.5% in the 2nd quarter. Moors & Cabot Inc. now owns 8,123 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 499 shares during the last quarter. US Bancorp DE grew its holdings in Eastman Chemical by 1.1% in the 4th quarter. US Bancorp DE now owns 50,472 shares of the basic materials company’s stock worth $4,675,000 after acquiring an additional 551 shares during the last quarter. Scotia Capital Inc. grew its holdings in Eastman Chemical by 14.5% in the 2nd quarter. Scotia Capital Inc. now owns 4,495 shares of the basic materials company’s stock worth $378,000 after acquiring an additional 570 shares during the last quarter. Finally, Psagot Investment House Ltd. grew its holdings in 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 acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 84.13% of the company’s stock.
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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.
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