StockNews.com Lowers Eastman Chemical (NYSE:EMN) to Hold

Eastman Chemical (NYSE:EMN - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Monday.

EMN has been the topic of a number of other research reports. KeyCorp lifted their price target on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. Citigroup boosted their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a "buy" rating in a research report on Wednesday, April 10th. Royal Bank of Canada upped their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, April 19th. Redburn Atlantic assumed coverage on Eastman Chemical in a research note on Thursday, February 15th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, UBS Group increased their target price on Eastman Chemical from $91.00 to $93.00 and gave the company a "neutral" rating in a research note on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $101.41.

Eastman Chemical Stock Up 1.9 %

Shares of Eastman Chemical stock traded up $1.78 during midday trading on Monday, reaching $97.34. 1,308,256 shares of the company's stock traded hands, compared to its average volume of 1,094,609. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71. The company's 50 day simple moving average is $93.98 and its 200 day simple moving average is $86.56. 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 released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the company posted $1.63 EPS. The firm's revenue was down 4.2% on a year-over-year basis. Equities analysts expect that Eastman Chemical will post 7.71 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 business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.28% of the company's stock.

Hedge Funds Weigh In On Eastman Chemical

Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its stake in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company's stock valued at $147,000 after purchasing an additional 128 shares during the last quarter. Tucker Asset Management LLC boosted its holdings in Eastman Chemical by 19.5% in the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company's stock valued at $67,000 after acquiring an additional 142 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Eastman Chemical by 4.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company's stock worth $310,000 after purchasing an additional 151 shares during the period. Parkside Financial Bank & Trust raised its holdings in Eastman Chemical by 26.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company's stock worth $62,000 after purchasing an additional 169 shares during the last quarter. Finally, Steph & Co. lifted its position in Eastman Chemical by 12.8% during the 3rd quarter. Steph & Co. now owns 1,765 shares of the basic materials company's stock valued at $135,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

About Eastman Chemical

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.