UBS Group Issues Pessimistic Forecast for Eastman Chemical (NYSE:EMN) Stock Price

Eastman Chemical (NYSE:EMN - Get Free Report) had its price objective decreased by stock analysts at UBS Group from $123.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the basic materials company's stock. UBS Group's price objective indicates a potential upside of 47.03% from the company's previous close.

EMN has been the topic of several other reports. Royal Bank of Canada increased their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 4th. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Citigroup raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $105.00 to $101.00 in a research note on Friday, April 4th. Finally, KeyCorp lifted their target price on Eastman Chemical from $121.00 to $128.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $107.75.

Eastman Chemical Stock Up 2.9 %

Shares of EMN traded up $2.18 during trading hours on Monday, hitting $78.22. The company had a trading volume of 2,057,195 shares, compared to its average volume of 1,011,042. The firm has a fifty day moving average price of $92.01 and a 200-day moving average price of $97.24. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.22 and a beta of 1.38. 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.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, equities research analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Institutional Trading of Eastman Chemical

Large investors have recently modified their holdings of the company. Curat Global LLC purchased a new stake in shares of Eastman Chemical in the 1st quarter worth approximately $79,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Eastman Chemical by 47.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 672 shares of the basic materials company's stock valued at $59,000 after acquiring an additional 217 shares in the last quarter. Iams Wealth Management LLC increased its holdings in shares of Eastman Chemical by 19.4% in the 1st quarter. Iams Wealth Management LLC now owns 11,752 shares of the basic materials company's stock valued at $1,036,000 after acquiring an additional 1,909 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of Eastman Chemical by 17.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,990 shares of the basic materials company's stock worth $352,000 after acquiring an additional 604 shares in the last quarter. Finally, Kwmg LLC lifted its stake in shares of Eastman Chemical by 3.6% during the 1st quarter. Kwmg LLC now owns 52,818 shares of the basic materials company's stock worth $4,654,000 after purchasing an additional 1,848 shares during the last quarter. Hedge funds and other 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.