Eastman Chemical (NYSE:EMN) Rating Increased to Buy at StockNews.com

Eastman Chemical (NYSE:EMN - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Saturday.

Other equities research analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their price target for the company from $115.00 to $109.00 in a research note on Tuesday. Mizuho increased their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Citigroup cut Eastman Chemical from a "buy" rating to a "neutral" rating and decreased their price target for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company upgraded Eastman Chemical from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.92.

Eastman Chemical Stock Up 1.6 %

Eastman Chemical stock traded up $1.48 during mid-day trading on Friday, reaching $93.22. 948,373 shares of the company were exchanged, compared to its average volume of 980,779. Eastman Chemical has a 12-month low of $80.71 and a 12-month high of $114.50. The business has a fifty day moving average of $96.52 and a 200 day moving average of $100.21. The firm has a market cap of $10.81 billion, a P/E ratio of 12.48, a PEG ratio of 0.62 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $1.47 earnings per share. The firm's revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts anticipate that Eastman Chemical will post 7.61 earnings per share for the current fiscal year.

Insider Buying and Selling at Eastman Chemical

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of the company'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 owns 47,287 shares of the company's stock, valued at $4,965,135. This represents a 18.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value 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 approximately $1,298,430. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock worth $1,895,948 in the last three months. 2.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds have recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Dunhill Financial LLC lifted its stake in Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after acquiring an additional 162 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Eastman Chemical during the 3rd quarter worth about $38,000. Benjamin F. Edwards & Company Inc. lifted its stake in Eastman Chemical by 30.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company's stock worth $60,000 after acquiring an additional 144 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Eastman Chemical by 52.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company's stock worth $60,000 after acquiring an additional 185 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.