Eastman Chemical (NYSE:EMN) Stock Rating Cut to Neutral at JPMorgan Chase & Co.

Key Points

• JPMorgan downgraded Eastman Chemical from “overweight” to “neutral” and set a $66 price target, implying 3.46% potential upside from the reported $63.79 share price.
• Analyst sentiment is broadly cautious, with six “buy” ratings and ten “hold” ratings producing a consensus “hold” rating and average price target of $75.50.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 in adjusted EPS versus the $1.82 consensus and revenue of $2.51 billion versus $2.40 billion expected; institutional investors own 83.65% of the stock.

Eastman Chemical (NYSE:EMN - Get Free Report) was downgraded by investment analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research report issued on Friday, MarketBeat.com reports. They currently have a $66.00 target price on the basic materials company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 3.46% from the company's current price.

Several other research analysts also recently weighed in on the company. Citigroup cut their price target on Eastman Chemical from $81.00 to $76.00 and set a "buy" rating for the company in a research note on Wednesday, September 30th. KeyCorp began coverage on Eastman Chemical in a research note on Thursday, September 10th. They issued a "sector weight" rating on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a report on Thursday, July 16th. Morgan Stanley cut their target price on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada cut their target price on shares of Eastman Chemical from $74.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Eastman Chemical presently has a consensus rating of "Hold" and an average target price of $75.50.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $63.79 on Friday. Eastman Chemical has a 12 month low of $56.11 and a 12 month high of $83.47. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72. The business's 50 day simple moving average is $68.74 and its 200 day simple moving average is $70.79. The company has a market cap of $7.30 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.78 and a beta of 1.06.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Sell-side analysts forecast that Eastman Chemical will post 6.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Eastman Chemical during the 2nd quarter valued at about $1,134,421,000. Dimensional Fund Advisors LP boosted its stake in Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company's stock worth $376,747,000 after buying an additional 338,914 shares in the last quarter. State Street Corp boosted its stake in Eastman Chemical by 0.7% in the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company's stock worth $282,741,000 after buying an additional 29,010 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company's stock valued at $196,552,000 after acquiring an additional 732,693 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Eastman Chemical by 13.5% during the first quarter. Bank of America Corp DE now owns 2,244,071 shares of the basic materials company's stock valued at $171,267,000 after acquiring an additional 266,719 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

About Eastman Chemical

Eastman Chemical Company NYSE: EMN is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman's portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.

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