Eastman Chemical (NYSE:EMN) Price Target Lowered to $110.00 at Deutsche Bank Aktiengesellschaft

Eastman Chemical (NYSE:EMN - Free Report) had its price target reduced by Deutsche Bank Aktiengesellschaft from $115.00 to $110.00 in a report issued on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the basic materials company's stock.

A number of other research analysts have also recently weighed in on the stock. Barclays raised their price objective 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. Bank of America cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and raised their price objective for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Piper Sandler reissued a "neutral" rating and set a $105.00 price objective on shares of Eastman Chemical in a research note on Tuesday, July 30th. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Monday, July 29th. Finally, Mizuho lifted their target price on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Eastman Chemical currently has an average rating of "Hold" and an average target price of $111.64.

Eastman Chemical Price Performance

Shares of EMN stock traded down $1.03 during midday trading on Monday, reaching $100.05. 1,196,589 shares of the company traded hands, compared to its average volume of 943,820. The firm's 50 day simple moving average is $105.80 and its two-hundred day simple moving average is $101.04. Eastman Chemical has a 1-year low of $75.01 and a 1-year high of $114.50. 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 firm has a market cap of $11.69 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.45%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the firm earned $1.47 EPS. The company's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Eastman Chemical will post 7.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

Institutional investors have recently modified their holdings of the business. Cultivar Capital Inc. bought a new stake in shares of Eastman Chemical during the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC grew its position in shares of Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock valued at $32,000 after buying an additional 200 shares during the last quarter. EntryPoint Capital LLC bought a new position in Eastman Chemical in the 1st quarter worth about $38,000. Rothschild Investment LLC bought a new position in Eastman Chemical in the 2nd quarter worth about $38,000. Finally, Northwest Investment Counselors LLC bought a new position in Eastman Chemical in the 3rd quarter worth about $38,000. Institutional investors 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.