Citigroup Raises Eastman Chemical (NYSE:EMN) Price Target to $114.00

Eastman Chemical (NYSE:EMN - Get Free Report) had its price target increased by Citigroup from $95.00 to $114.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Citigroup's price target suggests a potential upside of 13.28% from the stock's previous close.

EMN has been the topic of several other reports. UBS Group increased their price target on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a "neutral" rating in a research note on Friday, February 2nd. KeyCorp upped their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an "overweight" rating in a research note on Tuesday. Redburn Atlantic initiated coverage on Eastman Chemical in a research report on Thursday, February 15th. They set a "buy" rating and a $110.00 target price on the stock. The Goldman Sachs Group upped their target price on Eastman Chemical from $82.00 to $92.00 and gave the company a "neutral" rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus cut their price target on Eastman Chemical from $102.00 to $101.00 and set a "buy" rating on the stock in a research report on Monday, February 5th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $96.19.

Eastman Chemical Stock Down 1.3 %

Shares of EMN stock traded down $1.31 during trading hours on Wednesday, reaching $100.64. 968,197 shares of the stock were exchanged, compared to its average volume of 1,115,426. The business's fifty day moving average is $90.39 and its two-hundred day moving average is $84.53. The firm has a market capitalization of $11.84 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.11 and a beta of 1.54. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $102.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The company's quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. As a group, research analysts expect that Eastman Chemical will post 7.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Adrian James Holt sold 4,735 shares of the company's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.28% of the stock is currently owned by insiders.

Institutional Trading of Eastman Chemical

A number of institutional investors have recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. purchased a new position in shares of Eastman Chemical in the third quarter valued at $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter valued at $26,000. Pacifica Partners Inc. acquired a new stake in shares of Eastman Chemical during the third quarter valued at $28,000. Cornerstone Planning Group LLC purchased a new stake in Eastman Chemical during the 2nd quarter worth about $33,000. Finally, Money Concepts Capital Corp raised its stake in Eastman Chemical by 435.0% in the 4th quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. Hedge funds and other institutional investors 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.