Mizuho Increases Eastman Chemical (NYSE:EMN) Price Target to $102.00

Eastman Chemical (NYSE:EMN) had its price target hoisted by stock analysts at Mizuho from $91.00 to $102.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Mizuho’s price target suggests a potential upside of 6.74% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Redburn Atlantic initiated coverage on Eastman Chemical in a research note on Thursday, February 15th. They set a “buy” rating and a $110.00 target price for the company. KeyCorp increased their price target on Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada increased their price target on Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, April 19th. UBS Group increased their price target on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company increased their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.31.

Eastman Chemical Stock Down 0.6 %

NYSE EMN opened at $95.56 on Friday. The business has a fifty day moving average price of $93.98 and a two-hundred day moving average price of $86.39. 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 has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The stock has a market capitalization of $11.24 billion, a PE ratio of 12.31, a PEG ratio of 1.06 and a beta of 1.54.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share 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 firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The company’s quarterly 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.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.93% of the company’s stock.

Institutional Trading of Eastman Chemical

A number of large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in Eastman Chemical by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 128 shares during the period. Tucker Asset Management LLC grew its stake in shares of Eastman Chemical by 19.5% in the 3rd quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after buying an additional 142 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of Eastman Chemical by 4.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock valued at $310,000 after buying an additional 151 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Eastman Chemical by 26.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock valued at $62,000 after buying an additional 169 shares during the period. Finally, Steph & Co. grew its stake in shares of Eastman Chemical by 12.8% in the 3rd quarter. Steph & Co. now owns 1,765 shares of the basic materials company’s stock valued at $135,000 after buying an additional 200 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.