Eastman Chemical Company (NYSE:EMN) Stock Has Consensus Target Price of $74.64 According to Analysts

Eastman Chemical Company (NYSE:EMN) has been given a consensus rating of “Hold” by the sixteen brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $74.79.

Several brokerages have recently commented on EMN. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $74.00 price target on shares of Eastman Chemical in a research report on Monday, August 3rd. Wells Fargo & Company set a $68.00 price objective on shares of Eastman Chemical in a report on Friday, October 16th. The Goldman Sachs Group reiterated a “neutral” rating and set a $72.00 price objective on shares of Eastman Chemical in a research note on Monday. JPMorgan Chase & Co. dropped their target price on Eastman Chemical from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, November 2nd. Finally, Mizuho decreased their target price on Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, October 1st.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd boosted its position in Eastman Chemical by 36.9% during the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 145 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Eastman Chemical by 0.7% in the second quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company’s stock worth $1,389,000 after buying an additional 153 shares during the period. Parkside Financial Bank & Trust lifted its stake in Eastman Chemical by 17.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,134 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 168 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Eastman Chemical by 5.0% during the second quarter. Rehmann Capital Advisory Group now owns 3,850 shares of the basic materials company’s stock worth $257,000 after buying an additional 184 shares during the last quarter. Finally, Bingham Private Wealth LLC increased its stake in Eastman Chemical by 4.0% in the third quarter. Bingham Private Wealth LLC now owns 4,935 shares of the basic materials company’s stock valued at $320,000 after acquiring an additional 190 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 2.1%

Shares of Eastman Chemical stock opened at $64.36 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.57 and a quick ratio of 0.76. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $83.47. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.90 and a beta of 1.07. The firm’s 50-day moving average is $66.16 and its two-hundred day moving average is $70.85.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.08). Eastman Chemical had a net margin of 7.15% and a return on equity of 10.59%. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts expect that Eastman Chemical will post 6.10 earnings per share for the current fiscal year.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.