Eastman Chemical (NYSE:EMN) Price Target Raised to $128.00

Eastman Chemical (NYSE:EMN) had its target price upped by KeyCorp from $121.00 to $128.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price target indicates a potential upside of 28.62% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Piper Sandler reduced their price target on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company raised shares of 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 research report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical has a consensus rating of “Moderate Buy” and an average price target of $113.08.

Eastman Chemical Trading Up 7.4 %

Shares of EMN stock opened at $99.52 on Monday. The company’s 50-day moving average price is $94.80 and its 200-day moving average price is $100.02. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 0.73 and a beta of 1.44. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. As a group, equities analysts predict that Eastman Chemical will post 8.46 earnings per share for the current year.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the transaction, the senior vice president now directly owns 12,366 shares in the company, valued at $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,021 shares of company stock worth $1,895,948 over the last three months. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Eastman Chemical

Large investors have recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at approximately $27,000. Wolff Wiese Magana LLC boosted its holdings in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Dunhill Financial LLC boosted its holdings in shares of Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 162 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at approximately $37,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the third quarter worth $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

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.