Deutsche Bank Aktiengesellschaft Lowers Eastman Chemical (NYSE:EMN) Price Target to $110.00

Eastman Chemical (NYSE:EMN) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $115.00 to $110.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Several other brokerages have also recently weighed in on EMN. Royal Bank of Canada lifted their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Barclays upped their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and increased their target price for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of “Hold” and an average price target of $111.50.

Eastman Chemical Trading Down 0.1 %

Shares of NYSE EMN opened at $103.53 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.71. The stock has a market capitalization of $12.00 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 1-year low of $75.50 and a 1-year high of $114.50. The business has a fifty day moving average price of $105.90 and a 200 day moving average price of $101.14.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Eastman Chemical will post 7.61 EPS for the current fiscal year.

Insider Transactions at Eastman Chemical

In related 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently modified their holdings of EMN. Capital Research Global Investors grew its holdings in shares of Eastman Chemical by 649.8% during the 1st quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock valued at $452,139,000 after purchasing an additional 3,909,740 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Eastman Chemical by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,280,699 shares of the basic materials company’s stock worth $223,435,000 after buying an additional 198,645 shares in the last quarter. Earnest Partners LLC increased its position in shares of Eastman Chemical by 1.8% in the second quarter. Earnest Partners LLC now owns 2,240,013 shares of the basic materials company’s stock worth $219,454,000 after purchasing an additional 40,070 shares during the last quarter. Bank of New York Mellon Corp grew its position in Eastman Chemical by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,220,463 shares of the basic materials company’s stock valued at $119,569,000 after acquiring an additional 7,847 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Eastman Chemical by 18.1% during the first quarter. Clearbridge Investments LLC now owns 1,120,604 shares of the basic materials company’s stock valued at $112,307,000 after acquiring an additional 171,945 shares during the last quarter. 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.