Eastman Chemical (NYSE:EMN) Stock Rating Lowered by Wall Street Zen

Eastman Chemical (NYSE:EMN) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts have also weighed in on EMN. The Goldman Sachs Group reiterated a “neutral” rating and issued a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Citigroup cut their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Morgan Stanley decreased their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Finally, KeyCorp began coverage on Eastman Chemical in a research note on Thursday. They set a “sector weight” rating for the company. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.17.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $68.05 on Friday. The business’s 50 day moving average price is $70.75 and its 200 day moving average price is $71.87. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. Eastman Chemical has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, research analysts predict that Eastman Chemical will post 6.48 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at $25,000. Altshuler Shaham Ltd purchased a new position in Eastman Chemical during the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Eastman Chemical during the 4th quarter valued at about $27,000. Los Angeles Capital Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at about $27,000. Finally, McMillan Office Inc. purchased a new stake in Eastman Chemical during the fourth quarter worth about $29,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.