Eastman Chemical (NYSE:EMN) Given New $102.00 Price Target at Mizuho

Eastman Chemical (NYSE:EMN) had its price objective upped by stock analysts at Mizuho from $91.00 to $102.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Mizuho’s target price would suggest a potential upside of 7.56% from the company’s previous close.

Several other equities research analysts have also recently commented on EMN. UBS Group boosted their price target on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Citigroup upped their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Stifel Nicolaus dropped their target price on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, February 5th. KeyCorp upped their target price on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Wells Fargo & Company upped their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.31.

Eastman Chemical Stock Down 1.4 %

NYSE EMN traded down $1.30 on Friday, reaching $94.83. The company had a trading volume of 365,562 shares, compared to its average volume of 1,079,682. The firm has a market capitalization of $11.15 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.07 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The company’s fifty day moving average is $93.56 and its 200-day moving average is $86.16.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 EPS. On average, research analysts forecast that Eastman Chemical will post 7.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.93% of the company’s stock.

Hedge Funds Weigh In On Eastman Chemical

A number of hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its holdings in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock worth $147,000 after purchasing an additional 128 shares during the period. Tucker Asset Management LLC lifted its holdings in Eastman Chemical by 19.5% in the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after buying an additional 142 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in Eastman Chemical by 4.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock valued at $310,000 after buying an additional 151 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Eastman Chemical by 26.2% in the third quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock valued at $62,000 after buying an additional 169 shares during the period. Finally, Steph & Co. lifted its holdings in Eastman Chemical by 12.8% in the third quarter. Steph & Co. now owns 1,765 shares of the basic materials company’s stock valued at $135,000 after buying an additional 200 shares during the period. 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.