UBS Group Has Lowered Expectations for Eastman Chemical (NYSE:EMN) Stock Price

Eastman Chemical (NYSE:EMN) had its price objective reduced by equities researchers at UBS Group from $123.00 to $115.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. UBS Group’s price target would suggest a potential upside of 58.80% from the company’s current price.

A number of other research firms also recently weighed in on EMN. Barclays cut their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Piper Sandler reduced their target price on Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating on the stock in a report on Monday. Royal Bank of Canada boosted their target price on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 4th. Mizuho upgraded shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.67.

Eastman Chemical Stock Down 1.7 %

NYSE EMN opened at $72.42 on Monday. The stock has a market capitalization of $8.34 billion, a P/E ratio of 9.43, a price-to-earnings-growth 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. The stock has a fifty day moving average of $93.56 and a 200-day moving average of $98.00.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share 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 year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Eastman Chemical by 10.7% in the 1st quarter. Rhumbline Advisers now owns 226,370 shares of the basic materials company’s stock valued at $19,945,000 after acquiring an additional 21,809 shares in the last quarter. BTC Capital Management Inc. lifted its position in shares of Eastman Chemical by 35.2% in the first quarter. BTC Capital Management Inc. now owns 21,389 shares of the basic materials company’s stock worth $1,885,000 after purchasing an additional 5,574 shares in the last quarter. Delphi Management Inc. MA lifted its position in shares of Eastman Chemical by 123.5% in the first quarter. Delphi Management Inc. MA now owns 12,728 shares of the basic materials company’s stock worth $1,121,000 after purchasing an additional 7,032 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Eastman Chemical by 15.2% during the first quarter. Parallel Advisors LLC now owns 1,440 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 190 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Eastman Chemical by 11,261.1% in the 1st quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company’s stock valued at $42,023,000 after buying an additional 472,741 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

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.