Eastman Chemical (NYSE:EMN) Raised to “Buy” at Citigroup

Eastman Chemical (NYSE:EMN) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report issued on Friday,Benzinga reports. The firm currently has a $101.00 price target on the basic materials company’s stock, down from their prior price target of $105.00. Citigroup’s price objective would indicate a potential upside of 26.28% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Piper Sandler lifted their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Thursday. Barclays lowered their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Finally, UBS Group decreased their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus price target of $112.83.

Eastman Chemical Trading Down 9.4 %

NYSE:EMN opened at $79.98 on Friday. The firm has a market capitalization of $9.21 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 52 week low of $76.02 and a 52 week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $95.09 and a 200 day moving average of $98.98.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, research analysts predict that Eastman Chemical will post 8.55 earnings per share for the current year.

Institutional Trading of Eastman Chemical

Institutional investors and hedge funds have recently modified their holdings of the business. Crews Bank & Trust purchased a new stake in shares of Eastman Chemical during the fourth quarter valued at $27,000. Picton Mahoney Asset Management raised its stake in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 124 shares during the period. Dunhill Financial LLC raised its holdings in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 162 shares during the period. Assetmark Inc. raised its stake in Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $35,000. Institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.