UBS Group Cuts Eastman Chemical (NYSE:EMN) Price Target to $123.00

Eastman Chemical (NYSE:EMN) had its price objective dropped by analysts at UBS Group from $124.00 to $123.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the basic materials company’s stock. UBS Group’s target price suggests a potential upside of 23.58% from the company’s previous close.

Several other research analysts also recently commented on EMN. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and lowered their target price for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical currently has an average rating of “Moderate Buy” and an average target price of $112.54.

Eastman Chemical Stock Up 7.4 %

Shares of Eastman Chemical stock traded up $6.86 during trading on Friday, reaching $99.53. 1,766,828 shares of the company traded hands, compared to its average volume of 1,076,615. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The company has a 50 day moving average price of $94.92 and a 200-day moving average price of $100.01. Eastman Chemical has a 1-year low of $80.71 and a 1-year high of $114.50. The firm has a market capitalization of $11.54 billion, a PE ratio of 13.33, a P/E/G ratio of 0.68 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. As a group, equities research analysts expect that Eastman Chemical will post 7.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,021 shares of company stock valued at $1,895,948. 1.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wolff Wiese Magana LLC raised its stake in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after buying an additional 200 shares during the period. Crews Bank & Trust acquired a new stake in Eastman Chemical during the 4th quarter worth $27,000. Dunhill Financial LLC raised its stake in Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical during the 3rd quarter worth $38,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Eastman Chemical during the 4th quarter worth $37,000. 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.