Eastman Chemical (NYSE:EMN) Receives Neutral Rating from JPMorgan Chase & Co.

Eastman Chemical (NYSE:EMN - Get Free Report)'s stock had its "neutral" rating reaffirmed by JPMorgan Chase & Co. in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $76.00 price objective on the basic materials company's stock, down from their prior price objective of $112.00. JPMorgan Chase & Co.'s target price suggests a potential upside of 0.26% from the stock's previous close.

A number of other equities research analysts have also weighed in on EMN. Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $105.00 to $101.00 in a report on Friday, April 4th. KeyCorp cut their price objective on Eastman Chemical from $128.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a report on Thursday, April 3rd. Piper Sandler dropped their target price on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Finally, UBS Group cut 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 note on Monday, April 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and a consensus price target of $104.08.

Eastman Chemical Stock Down 6.2 %

EMN opened at $75.80 on Monday. The stock has a market capitalization of $8.73 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. Eastman Chemical has a one year low of $70.90 and a one year high of $114.50. The business's 50-day simple moving average is $87.38 and its 200-day simple moving average is $94.89. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. Analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Institutional Investors Weigh In On Eastman Chemical

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

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