Eastman Chemical (NYSE:EMN) Upgraded at StockNews.com

StockNews.com upgraded shares of Eastman Chemical (NYSE:EMN - Free Report) from a hold rating to a buy rating in a report published on Tuesday morning.

A number of other research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Bank of America cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and boosted their target price for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Wells Fargo & Company upgraded shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Royal Bank of Canada restated a "sector perform" rating and issued a $105.00 price objective on shares of Eastman Chemical in a report on Friday, November 22nd. Finally, Mizuho raised their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $112.86.

Eastman Chemical Trading Down 1.0 %

Shares of EMN traded down $1.05 during mid-day trading on Tuesday, reaching $103.22. The company's stock had a trading volume of 199,013 shares, compared to its average volume of 952,494. The stock has a market cap of $11.96 billion, a PE ratio of 13.96, a P/E/G ratio of 0.84 and a beta of 1.42. The company's fifty day moving average price is $106.18 and its two-hundred day moving average price is $101.75. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. Eastman Chemical has a 52 week low of $80.71 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 (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.12. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 EPS. On average, analysts predict that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value 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. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,021 shares of company stock valued at $1,895,948 over the last 90 days. Company insiders own 2.28% of the company's stock.

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMN. Tidal Investments LLC boosted its position in shares of Eastman Chemical by 31.3% in the first quarter. Tidal Investments LLC now owns 7,468 shares of the basic materials company's stock worth $748,000 after purchasing an additional 1,780 shares during the period. Cetera Investment Advisers increased its stake in Eastman Chemical by 81.5% in the 1st quarter. Cetera Investment Advisers now owns 47,691 shares of the basic materials company's stock worth $4,780,000 after buying an additional 21,412 shares in the last quarter. Cetera Advisors LLC raised its holdings in Eastman Chemical by 119.7% during the first quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company's stock valued at $1,011,000 after acquiring an additional 5,496 shares during the period. DNB Asset Management AS boosted its stake in shares of Eastman Chemical by 16.3% in the second quarter. DNB Asset Management AS now owns 22,854 shares of the basic materials company's stock worth $2,239,000 after acquiring an additional 3,203 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Eastman Chemical by 2.8% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company's stock worth $394,000 after purchasing an additional 111 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

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.