Eastman Chemical (NYSE:EMN) Upgraded by StockNews.com to Buy Rating

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

Several other equities research analysts also recently issued reports on EMN. Wells Fargo & Company lowered their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an "equal weight" rating for the company in a research report on Monday, November 4th. Mizuho increased their target price on Eastman Chemical from $107.00 to $113.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Bank of America downgraded Eastman Chemical from a "buy" rating to a "neutral" rating and lifted their price target for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Royal Bank of Canada reduced their price objective on Eastman Chemical from $107.00 to $105.00 and set a "sector perform" rating for the company in a research report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price 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. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $111.50.

Eastman Chemical Trading Down 0.0 %

EMN stock traded down $0.02 during midday trading on Thursday, hitting $100.75. 964,525 shares of the company's stock were exchanged, compared to its average volume of 952,424. Eastman Chemical has a one year low of $79.50 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The company has a market cap of $11.68 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The stock's fifty day moving average price is $105.92 and its 200-day moving average price is $101.31.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter in the previous year, the business posted $1.47 EPS. Eastman Chemical's revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the sale, the senior vice president now owns 12,366 shares of the company's stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.93% of the company's stock.

Hedge Funds Weigh In On Eastman Chemical

A number of institutional investors have recently added to or reduced their stakes in EMN. UMB Bank n.a. grew its stake in shares of Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company's stock worth $262,000 after buying an additional 96 shares during the last quarter. V Square Quantitative Management LLC grew its position in Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company's stock worth $300,000 after acquiring an additional 98 shares during the last quarter. Lcnb Corp increased its holdings in Eastman Chemical by 1.7% in the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company's stock worth $629,000 after purchasing an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company's stock valued at $394,000 after purchasing an additional 111 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in shares of Eastman Chemical by 3.3% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company's stock valued at $384,000 after purchasing an additional 111 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.