Eastman Chemical (NYSE:EMN) Price Target Lowered to $85.00 at Barclays

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective decreased by investment analysts at Barclays from $108.00 to $85.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the basic materials company's stock. Barclays's price target points to a potential upside of 9.00% from the stock's previous close.

Several other research analysts have also weighed in on EMN. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. UBS Group dropped their price target on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research report on Wednesday, April 9th. Morgan Stanley dropped their target price on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Citigroup upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $105.00 to $101.00 in a report on Friday, April 4th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $99.15.

Eastman Chemical Stock Up 2.3 %

Shares of Eastman Chemical stock traded up $1.76 during trading on Tuesday, reaching $77.98. The stock had a trading volume of 1,546,232 shares, compared to its average volume of 1,045,851. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 1.22 and a beta of 1.29. Eastman Chemical has a 52 week low of $70.90 and a 52 week high of $114.50. The stock has a fifty day moving average price of $85.09 and a two-hundred day moving average price of $93.94.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The business's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 EPS. Sell-side analysts predict that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds have recently bought and sold shares of the business. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management grew its position in Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after buying an additional 124 shares in the last quarter. Assetmark Inc. increased its stake in Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after acquiring an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at $35,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical during the 4th quarter valued at $37,000. 83.65% of the stock is owned by institutional investors.

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.