KeyCorp Boosts Eastman Chemical (NYSE:EMN) Price Target to $128.00

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective lifted by stock analysts at KeyCorp from $121.00 to $128.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the basic materials company's stock. KeyCorp's target price indicates a potential upside of 26.47% from the company's previous close.

Other analysts have also issued reports about the stock. Wells Fargo & Company raised shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Royal Bank of Canada reissued a "sector perform" rating and issued a $105.00 price target on shares of Eastman Chemical in a research report on Friday, November 22nd. Citigroup lowered shares of Eastman Chemical from a "buy" rating to a "neutral" rating and cut their price objective for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Finally, Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $113.54.

Eastman Chemical Trading Down 0.6 %

Shares of EMN traded down $0.58 during midday trading on Monday, hitting $101.21. The stock had a trading volume of 982,506 shares, compared to its average volume of 1,198,084. Eastman Chemical has a fifty-two week low of $81.00 and a fifty-two week high of $114.50. The business has a 50-day simple moving average of $94.53 and a two-hundred day simple moving average of $100.09. The firm has a market cap of $11.73 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. As a group, equities analysts forecast that Eastman Chemical will post 8.46 EPS for the current year.

Insider Activity

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Julie A. Mcalindon sold 4,456 shares of the firm's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the sale, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.93% of the company's stock.

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds and other institutional investors have recently modified their holdings of EMN. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the fourth quarter worth $27,000. Wolff Wiese Magana LLC boosted its stake in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after buying an additional 200 shares in the last quarter. Assetmark Inc. boosted its stake in Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after buying an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the fourth quarter worth $35,000. Finally, Dunhill Financial LLC boosted its stake in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after buying an additional 162 shares in 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.