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

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective decreased by research analysts at UBS Group from $107.00 to $101.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. UBS Group's price objective would suggest a potential upside of 25.62% from the company's current price.

Several other research firms also recently commented on EMN. Barclays dropped their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group dropped their price target on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Citigroup raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. Royal Bank Of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company decreased their price objective on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.08.

Eastman Chemical Price Performance

Shares of NYSE:EMN traded down $0.03 during midday trading on Wednesday, hitting $80.40. The company's stock had a trading volume of 1,185,450 shares, compared to its average volume of 1,242,953. The business's 50 day simple moving average is $78.79 and its 200 day simple moving average is $86.16. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.79 and a current ratio of 1.72. The company has a market cap of $9.28 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 9.85% and a return on equity of 16.59%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.61 EPS. On average, analysts forecast that Eastman Chemical will post 8.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EMN. Brighton Jones LLC purchased a new position in Eastman Chemical during the fourth quarter worth about $202,000. Proficio Capital Partners LLC acquired a new position in Eastman Chemical during the fourth quarter worth about $75,000. Jones Financial Companies Lllp grew its position in Eastman Chemical by 168.6% during the fourth quarter. Jones Financial Companies Lllp now owns 3,693 shares of the basic materials company's stock worth $337,000 after buying an additional 2,318 shares during the period. Assetmark Inc. grew its position in Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after buying an additional 296 shares during the period. Finally, Callan Family Office LLC acquired a new position in Eastman Chemical during the fourth quarter worth about $228,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

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.