Eastman Chemical (NYSE:EMN) Upgraded to “Outperform” at Mizuho

Eastman Chemical (NYSE:EMN) was upgraded by equities researchers at Mizuho from a “neutral” rating to an “outperform” rating in a report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $105.00 price target on the basic materials company’s stock. Mizuho’s target price indicates a potential upside of 18.85% from the company’s previous close.

Several other research firms have also weighed in on EMN. UBS Group cut their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Piper Sandler lifted their target price on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays lowered their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Finally, KeyCorp lifted their target price on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $113.08.

Eastman Chemical Price Performance

Shares of EMN stock opened at $88.35 on Thursday. Eastman Chemical has a 1 year low of $85.56 and a 1 year high of $114.50. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $95.36 and its 200-day moving average is $99.11. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently made changes to their positions in EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management increased its holdings in shares of Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. Dunhill Financial LLC lifted its stake in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after buying an additional 296 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at about $35,000. 83.65% of the stock is 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.