Eastman Chemical (NYSE:EMN) PT Raised to $121.00

Eastman Chemical (NYSE:EMN - Get Free Report) had its price target upped by equities researchers at KeyCorp from $101.00 to $121.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the basic materials company's stock. KeyCorp's price objective would indicate a potential upside of 18.69% from the stock's current price.

Other analysts also recently issued research reports about the stock. UBS Group boosted their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Stifel Nicolaus cut their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a "buy" rating for the company in a report on Monday, February 5th. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Wednesday, December 13th. Redburn Atlantic assumed coverage on shares of Eastman Chemical in a report on Thursday, February 15th. They set a "buy" rating and a $110.00 price target for the company. Finally, Royal Bank of Canada cut their price target on shares of Eastman Chemical from $91.00 to $89.00 and set a "sector perform" rating for the company in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and a consensus target price of $95.00.

Eastman Chemical Stock Performance

EMN traded up $1.42 on Tuesday, reaching $101.95. The company had a trading volume of 793,381 shares, compared to its average volume of 1,117,592. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The stock has a market cap of $11.99 billion, a P/E ratio of 13.50, a P/E/G ratio of 1.11 and a beta of 1.54. The company's fifty day moving average is $90.05 and its 200 day moving average is $84.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.28 by $0.03. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. Eastman Chemical's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 EPS. As a group, analysts predict that Eastman Chemical will post 7.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the company's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.28% of the company's stock.

Institutional Investors Weigh In On Eastman Chemical

Large investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Eastman Chemical by 2.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,261 shares of the basic materials company's stock valued at $1,934,000 after buying an additional 386 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Eastman Chemical by 0.8% during the first quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company's stock valued at $2,087,000 after purchasing an additional 150 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of Eastman Chemical by 10.4% during the first quarter. Cibc World Market Inc. now owns 6,098 shares of the basic materials company's stock valued at $683,000 after purchasing an additional 572 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Eastman Chemical by 2.5% during the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company's stock valued at $491,000 after purchasing an additional 105 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Eastman Chemical by 16.4% during the first quarter. Sei Investments Co. now owns 200,656 shares of the basic materials company's stock valued at $22,546,000 after purchasing an additional 28,338 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.