Mizuho Boosts Eastman Chemical (NYSE:EMN) Price Target to $117.00

Eastman Chemical (NYSE:EMN) had its target price raised by analysts at Mizuho from $113.00 to $117.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Mizuho’s target price suggests a potential upside of 12.26% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Barclays raised their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price target for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. StockNews.com lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler reissued a “neutral” rating and issued a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical has a consensus rating of “Hold” and a consensus target price of $112.86.

Eastman Chemical Trading Down 0.7 %

NYSE EMN opened at $104.22 on Tuesday. The company has a market cap of $12.08 billion, a PE ratio of 13.95, a PEG ratio of 0.81 and a beta of 1.44. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50. The stock has a 50 day moving average of $106.42 and a 200-day moving average of $101.65. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. On average, equities research analysts anticipate that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Insider Transactions at Eastman Chemical

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cultivar Capital Inc. acquired a new stake in Eastman Chemical in the second quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its position in 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 purchasing an additional 200 shares during the last quarter. Dunhill Financial LLC raised its position in 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 purchasing an additional 162 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Eastman Chemical during the first quarter valued at about $38,000. Finally, Rothschild Investment LLC bought a new stake in shares of Eastman Chemical during the second quarter worth about $38,000. 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.