Eastman Chemical (NYSE:EMN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Eastman Chemical from “Buy” to “Hold,” joining a broader analyst consensus of “Hold.” Six analysts rate the stock a Buy and eight rate it a Hold, with a consensus price target of $79.17.
• Eastman Chemical shares opened at $68.05, below the consensus target, and have traded between $56.11 and $83.47 over the past year.
• The company exceeded quarterly expectations, reporting $1.97 in adjusted EPS versus the $1.82 estimate and $2.51 billion in revenue, up 9.9% year over year. Institutional investors own approximately 83.65% of the stock.

Eastman Chemical (NYSE:EMN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

A number of other research firms have also issued reports on EMN. Citigroup cut their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $74.00 price objective on shares of Eastman Chemical in a research report on Monday, August 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Royal Bank Of Canada increased their target price on Eastman Chemical from $69.00 to $74.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Finally, KeyCorp started coverage on Eastman Chemical in a research report on Thursday. They issued a "sector weight" rating for the company. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $79.17.

Eastman Chemical Trading Down 0.5%

Shares of NYSE EMN opened at $68.05 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical has a 12 month low of $56.11 and a 12 month high of $83.47. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 0.84 and a beta of 1.07. The business has a fifty day simple moving average of $70.75 and a 200-day simple moving average of $71.90.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm had revenue of $2.51 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same quarter last year, the business posted $1.60 EPS. Eastman Chemical's revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Sell-side analysts predict that Eastman Chemical will post 6.48 EPS for the current year.

Institutional Trading of Eastman Chemical

A number of institutional investors have recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth about $202,000. Integrated Wealth Concepts LLC increased its holdings in Eastman Chemical by 185.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock worth $589,000 after buying an additional 4,345 shares during the last quarter. Millennium Management LLC raised its position in Eastman Chemical by 69.2% during the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock valued at $17,098,000 after acquiring an additional 79,376 shares in the last quarter. NewEdge Advisors LLC raised its position in Eastman Chemical by 2.6% during the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock valued at $644,000 after acquiring an additional 183 shares in the last quarter. Finally, United Services Automobile Association acquired a new stake in Eastman Chemical in the first quarter valued at approximately $252,000. Institutional investors and hedge funds own 83.65% of the company's stock.

About Eastman Chemical

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.

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