Eastman Chemical Company (NYSE:EMN) had its target price hoisted by investment analysts at J P Morgan Chase & Co from $95.00 to $105.00 in a research note issued to investors on Monday. The firm presently has an “overweight” rating on the basic materials company’s stock. J P Morgan Chase & Co’s price target indicates a potential upside of 15.63% from the stock’s current price.

Several other research firms also recently weighed in on EMN. UBS AG boosted their price target on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. KeyCorp reiterated a “buy” rating and issued a $108.00 price target (up from $100.00) on shares of Eastman Chemical in a research report on Monday. Wells Fargo & Company reiterated an “outperform” rating and issued a $102.00 price target (up from $94.00) on shares of Eastman Chemical in a research report on Monday. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $93.00 price target (up from $91.00) on shares of Eastman Chemical in a research report on Monday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price target on shares of Eastman Chemical in a research report on Tuesday, October 3rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $96.00.

Eastman Chemical (NYSE EMN) opened at 90.81 on Monday. The stock has a market cap of $13.15 billion, a PE ratio of 14.57 and a beta of 1.27. Eastman Chemical has a one year low of $69.34 and a one year high of $94.96. The company’s 50 day moving average is $88.59 and its 200 day moving average is $84.15.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.16. Eastman Chemical had a net margin of 10.89% and a return on equity of 23.20%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. On average, equities research analysts expect that Eastman Chemical will post $7.25 EPS for the current year.

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In other Eastman Chemical news, Director Renee J. Hornbaker sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $84.43, for a total transaction of $337,720.00. Following the completion of the sale, the director now owns 21,858 shares of the company’s stock, valued at $1,845,470.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark K. Cox sold 1,400 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $84.24, for a total value of $117,936.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. RNC Capital Management LLC lifted its holdings in shares of Eastman Chemical by 0.5% during the second quarter. RNC Capital Management LLC now owns 3,278 shares of the basic materials company’s stock worth $275,000 after buying an additional 15 shares during the last quarter. Veritable L.P. lifted its holdings in shares of Eastman Chemical by 1.0% during the second quarter. Veritable L.P. now owns 2,776 shares of the basic materials company’s stock worth $233,000 after buying an additional 27 shares during the last quarter. HL Financial Services LLC lifted its holdings in shares of Eastman Chemical by 0.4% during the second quarter. HL Financial Services LLC now owns 11,253 shares of the basic materials company’s stock worth $945,000 after buying an additional 49 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Eastman Chemical by 1.2% during the second quarter. Daiwa Securities Group Inc. now owns 4,150 shares of the basic materials company’s stock worth $349,000 after buying an additional 50 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of Eastman Chemical by 1.6% during the second quarter. Contravisory Investment Management Inc. now owns 3,293 shares of the basic materials company’s stock worth $277,000 after buying an additional 52 shares during the last quarter. 82.76% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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