Eastman Chemical (NYSE:EMN) Upgraded at Wells Fargo & Company

Eastman Chemical (NYSE:EMN) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $125.00 price target on the basic materials company’s stock, up from their previous price target of $110.00. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.09% from the stock’s previous close.

Several other equities analysts also recently issued reports on EMN. StockNews.com downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. Mizuho boosted their price target on shares of Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays upped their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $112.57.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $105.85 on Tuesday. The company has a market cap of $12.27 billion, a PE ratio of 14.17, a P/E/G ratio of 0.81 and a beta of 1.44. The company has a fifty day moving average price of $106.43 and a two-hundred day moving average price of $101.59. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The firm had revenue of $2.46 billion during 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 firm’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 earnings per share. Research analysts expect that Eastman Chemical will post 7.63 earnings per share for the current year.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.28% of the company’s stock.

Institutional Trading of Eastman Chemical

A number of hedge funds have recently bought and sold shares of EMN. Cultivar Capital Inc. purchased a new stake in Eastman Chemical during the second quarter valued at about $29,000. Wolff Wiese Magana LLC lifted its position in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Eastman Chemical in the first quarter worth approximately $38,000. Finally, Rothschild Investment LLC purchased a new stake in shares of Eastman Chemical in the second quarter worth approximately $38,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

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.