Eastman Chemical (NYSE:EMN) Stock Price Expected to Rise, Mizuho Analyst Says

Eastman Chemical (NYSE:EMN - Free Report) had its price target raised by Mizuho from $107.00 to $113.00 in a research note published on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the basic materials company's stock.

EMN has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on Eastman Chemical from $100.00 to $107.00 and gave the stock a "sector perform" rating in a research note on Friday, October 11th. Bank of America lowered shares of Eastman Chemical from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Barclays boosted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an "equal weight" rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, July 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Eastman Chemical from $105.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Eastman Chemical currently has an average rating of "Hold" and a consensus price target of $112.07.

Eastman Chemical Price Performance

Shares of EMN traded down $4.01 during trading hours on Friday, hitting $101.08. The stock had a trading volume of 1,789,180 shares, compared to its average volume of 942,628. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 0.80 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The company's fifty day moving average is $105.79 and its two-hundred day moving average is $100.95. Eastman Chemical has a 52 week low of $74.31 and a 52 week high of $114.50.

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, topping the consensus estimate of $2.13 by $0.13. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. The company's quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts anticipate that Eastman Chemical will post 7.66 EPS for the current year.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its stake in Eastman Chemical by 321.2% during the 1st quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company's stock worth $1,628,000 after acquiring an additional 12,392 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Eastman Chemical during the first quarter worth $594,000. Dakota Wealth Management grew its holdings in shares of Eastman Chemical by 13.5% in the 2nd quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company's stock valued at $2,183,000 after buying an additional 2,655 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Eastman Chemical by 11.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 76,969 shares of the basic materials company's stock valued at $7,714,000 after buying an additional 7,717 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Eastman Chemical by 31.5% during the 1st quarter. Van ECK Associates Corp now owns 48,276 shares of the basic materials company's stock worth $4,838,000 after buying an additional 11,569 shares during the period. 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.