Eastman Chemical (NYSE:EMN) Stock Price Expected to Rise, Mizuho Analyst Says

Eastman Chemical (NYSE:EMN) had its price target boosted by Mizuho from $113.00 to $117.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock.

EMN has been the topic of several other research reports. Royal Bank of Canada restated a “sector perform” rating and set a $105.00 price target on shares of Eastman Chemical in a research note on Friday, November 22nd. Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research note on Tuesday, July 30th. Bank of America lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price target for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Barclays increased their price target on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Finally, StockNews.com lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eastman Chemical has a consensus rating of “Hold” and a consensus price target of $112.86.

Eastman Chemical Stock Up 0.5 %

EMN stock opened at $104.72 on Tuesday. Eastman Chemical has a 12-month low of $80.71 and a 12-month 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 cap of $12.14 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.83 and a beta of 1.44. The company has a 50 day moving average of $106.29 and a two-hundred day moving average of $101.68.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,021 shares of company stock worth $1,895,948 in the last ninety days. Insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Eastman Chemical

A number of hedge funds and other institutional investors have recently made changes to their positions in EMN. Cultivar Capital Inc. bought a new position in shares of Eastman Chemical during the 2nd quarter worth about $29,000. Wolff Wiese Magana LLC lifted its holdings in shares of Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Dunhill Financial LLC lifted its holdings in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the period. EntryPoint Capital LLC bought a new position in shares of Eastman Chemical during the 1st quarter worth about $38,000. Finally, Rothschild Investment LLC bought a new position in shares of Eastman Chemical during the 2nd quarter worth about $38,000. 83.65% of the stock is 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.