Piper Sandler Issues Pessimistic Forecast for Eastman Chemical (NYSE:EMN) Stock Price

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective dropped by stock analysts at Piper Sandler from $105.00 to $99.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. Piper Sandler's price objective points to a potential upside of 26.57% from the company's current price.

EMN has been the subject of several other research reports. KeyCorp upped their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. UBS Group lowered their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $107.75.

Eastman Chemical Price Performance

Shares of NYSE EMN traded up $2.18 during trading on Monday, reaching $78.22. The company had a trading volume of 2,057,195 shares, compared to its average volume of 1,011,042. Eastman Chemical has a 52 week low of $70.90 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The business's 50 day moving average price is $92.01 and its 200-day moving average price is $97.24. The stock has a market cap of $9.01 billion, a PE ratio of 10.18, a PEG ratio of 1.22 and a beta of 1.38.

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 for the quarter, beating analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Institutional Trading of Eastman Chemical

Institutional investors and hedge funds have recently modified their holdings of the business. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $27,000. Picton Mahoney Asset Management grew its stake in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after acquiring an additional 124 shares in the last quarter. Assetmark Inc. lifted its position in shares of Eastman Chemical by 384.4% during the 4th 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 bought a new stake in Eastman Chemical in the fourth quarter worth about $35,000. Finally, Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock valued at $37,000 after buying an additional 162 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

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.