Eastman Chemical (NYSE:EMN) Price Target Lowered to $101.00 at UBS Group

Eastman Chemical (NYSE:EMN - Get Free Report) had its price target dropped by analysts at UBS Group from $107.00 to $101.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. UBS Group's price objective would indicate a potential upside of 25.79% from the company's current price.

A number of other equities analysts also recently weighed in on EMN. Royal Bank Of Canada upgraded Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective on the stock in a research note on Wednesday, April 9th. Morgan Stanley dropped their price target on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. The Goldman Sachs Group cut their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.08.

Eastman Chemical Stock Down 1.6%

Shares of NYSE:EMN traded down $1.27 during trading on Wednesday, hitting $80.29. 818,507 shares of the company were exchanged, compared to its average volume of 1,246,465. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 1.95 and a beta of 1.22. The company has a current ratio of 1.72, a quick ratio of 0.79 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $78.94 and a two-hundred day moving average price of $86.01.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.02. Eastman Chemical had a net margin of 9.85% and a return on equity of 16.59%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Eastman Chemical by 65.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock valued at $28,000 after buying an additional 146 shares during the period. Picton Mahoney Asset Management grew its holdings in shares of Eastman Chemical by 62.3% during the 4th 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 position in shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares during the period. National Pension Service raised its stake in Eastman Chemical by 75.3% in the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 186 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Eastman Chemical during the fourth quarter worth about $43,000. 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.