Eastman Chemical (NYSE:EMN) Price Target Increased to $108.00 by Analysts at Barclays

Eastman Chemical (NYSE:EMN) had its price objective lifted by Barclays from $100.00 to $108.00 in a report published on Monday, February 5th. Barclays currently has an equal weight rating on the basic materials company’s stock.

Other analysts have also recently issued reports about the company. Instinet cut Eastman Chemical from a buy rating to a neutral rating and set a $91.00 target price for the company. in a research note on Tuesday, October 10th. Zacks Investment Research raised Eastman Chemical from a sell rating to a hold rating in a research note on Thursday, October 26th. Royal Bank of Canada reaffirmed a sector perform rating and set a $93.00 price target (up from $91.00) on shares of Eastman Chemical in a research note on Monday, October 30th. Wells Fargo & Co reaffirmed an outperform rating and set a $102.00 price target (up from $94.00) on shares of Eastman Chemical in a research note on Monday, October 30th. They noted that the move was a valuation call. Finally, UBS Group raised their price target on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a buy rating in a research note on Friday, October 27th. Nine equities research 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 an average target price of $101.73.

Shares of Eastman Chemical (NYSE EMN) opened at $99.70 on Monday. The firm has a market cap of $13,999.70, a P/E ratio of 9.85, a P/E/G ratio of 1.30 and a beta of 1.33. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94. Eastman Chemical has a 52-week low of $76.02 and a 52-week high of $104.08.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $2.24 billion. During the same period last year, the company posted $1.51 EPS. Eastman Chemical’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts predict that Eastman Chemical will post 8.47 earnings per share for the current fiscal year.

In other Eastman Chemical news, insider Damon Cary Warmack sold 4,417 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $98.60, for a total transaction of $435,516.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen R. Demeritt sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $99.84, for a total value of $399,360.00. Following the sale, the director now directly owns 17,732 shares of the company’s stock, valued at approximately $1,770,362.88. The disclosure for this sale can be found here. Insiders have sold a total of 66,742 shares of company stock valued at $6,555,051 in the last ninety days. Insiders own 1.14% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its holdings in shares of Eastman Chemical by 2.0% during the fourth quarter. Glenmede Trust Co. NA now owns 120,598 shares of the basic materials company’s stock worth $11,171,000 after buying an additional 2,414 shares in the last quarter. Biltmore Family Office LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $373,000. LPL Financial LLC lifted its holdings in shares of Eastman Chemical by 18.3% during the fourth quarter. LPL Financial LLC now owns 35,411 shares of the basic materials company’s stock worth $3,281,000 after buying an additional 5,486 shares in the last quarter. Sciencast Management LP acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $746,000. Finally, Meadow Creek Investment Management LLC lifted its holdings in shares of Eastman Chemical by 3.2% during the fourth quarter. Meadow Creek Investment Management LLC now owns 95,676 shares of the basic materials company’s stock worth $8,863,000 after buying an additional 2,992 shares in the last quarter. 84.13% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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