Eastman Chemical (NYSE:EMN) Upgraded at Barclays

Key Points

• Barclays upgraded Eastman Chemical to “hold”, while the broader analyst consensus remains “Hold,” with seven Buy ratings and nine Hold ratings and an average price target of $76.64.
• Eastman Chemical shares opened at $62.87, below their 50-day and 200-day moving averages, and are down from a 52-week high of $83.47.
• The company exceeded quarterly expectations, reporting $1.97 in earnings per share versus a $1.82 estimate and $2.51 billion in revenue; institutional investors own approximately 83.65% of its stock.

Eastman Chemical (NYSE:EMN - Get Free Report) was upgraded by Barclays to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also issued reports on the stock. UBS Group cut their price target on shares of Eastman Chemical from $92.00 to $77.00 and set a "buy" rating on the stock in a research note on Monday, October 5th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $85.00 price target on shares of Eastman Chemical in a report on Friday, September 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $74.00 price objective on shares of Eastman Chemical in a research note on Monday, August 3rd. Finally, Morgan Stanley dropped their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. Seven analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $76.64.

Eastman Chemical Trading Down 0.2%

Eastman Chemical stock opened at $62.87 on Monday. The stock has a 50-day moving average of $68.93 and a two-hundred day moving average of $70.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47. The stock has a market cap of $7.19 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06.

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 the consensus estimate 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 company's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, research analysts anticipate that Eastman Chemical will post 6.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Eastman Chemical during the 2nd quarter worth about $1,134,421,000. Dimensional Fund Advisors LP increased its stake in shares of Eastman Chemical by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company's stock valued at $376,747,000 after purchasing an additional 338,914 shares in the last quarter. State Street Corp increased its stake in shares of Eastman Chemical by 0.7% in the 2nd quarter. State Street Corp now owns 4,169,105 shares of the basic materials company's stock valued at $282,741,000 after purchasing an additional 29,010 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Eastman Chemical by 39.4% in the 1st 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 purchasing an additional 732,693 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Eastman Chemical by 10.1% in the 2nd quarter. Bank of America Corp DE now owns 2,469,976 shares of the basic materials company's stock worth $165,439,000 after purchasing an additional 225,905 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Company Profile

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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