Eastman Chemical (NYSE:EMN) Given New $110.00 Price Target at Deutsche Bank Aktiengesellschaft

Eastman Chemical (NYSE:EMN) had its price target decreased by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $110.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 9.04% from the company’s current price.

Several other analysts have also recently commented on EMN. Piper Sandler restated a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th. Mizuho increased their price target on Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company decreased their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Royal Bank of Canada increased their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $111.64.

Eastman Chemical Trading Up 0.8 %

Shares of NYSE EMN opened at $100.88 on Monday. The stock’s 50 day moving average price is $105.78 and its two-hundred day moving average price is $101.07. Eastman Chemical has a 52-week low of $75.01 and a 52-week high of $114.50. The stock has a market capitalization of $11.79 billion, a P/E ratio of 13.39, a PEG ratio of 0.77 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. On average, analysts anticipate that Eastman Chemical will post 7.61 earnings per share for the current fiscal year.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently modified their holdings of EMN. Capital Research Global Investors lifted its holdings in shares of Eastman Chemical by 649.8% in the first 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Eastman Chemical by 1,104.3% during the third quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company’s stock worth $104,560,000 after acquiring an additional 856,432 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Eastman Chemical by 201.5% during the second quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company’s stock worth $90,572,000 after acquiring an additional 617,889 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Eastman Chemical by 318.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 701,947 shares of the basic materials company’s stock worth $69,516,000 after acquiring an additional 534,081 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Eastman Chemical by 34.5% during the second quarter. Envestnet Asset Management Inc. now owns 852,551 shares of the basic materials company’s stock worth $83,524,000 after acquiring an additional 218,531 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.