Barclays Increases Eastman Chemical (NYSE:EMN) Price Target to $103.00

Eastman Chemical (NYSE:EMN) had its price target hoisted by stock analysts at Barclays from $85.00 to $103.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s price objective indicates a potential upside of 2.34% from the company’s previous close.

Several other research analysts also recently issued reports on the company. Citigroup upped their price objective on Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com cut Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Bank of America lowered their price objective on Eastman Chemical from $113.00 to $112.00 and set a “buy” rating for the company in a research report on Monday, April 29th. UBS Group upped their target price on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.18.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $100.64 on Monday. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.06 and a beta of 1.54. The firm’s 50-day moving average price is $95.55 and its two-hundred day moving average price is $87.76. The company has a current ratio of 1.39, a quick ratio of 0.71 and a debt-to-equity ratio of 0.77. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The business had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the company earned $1.63 EPS. Eastman Chemical’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities analysts predict that Eastman Chemical will post 7.75 earnings per share for the current fiscal year.

Insider Activity

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Eastman Chemical

Several hedge funds and other institutional investors have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Eastman Chemical during the fourth quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Eastman Chemical during the 1st quarter worth approximately $34,000. First Command Advisory Services Inc. acquired a new stake in shares of Eastman Chemical in the third quarter valued at approximately $26,000. Sound Income Strategies LLC lifted its position in shares of Eastman Chemical by 213.8% in the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 278 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Eastman Chemical during the fourth quarter worth $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.