Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Eastman Chemical (NYSE:EMN) Stock Price

Eastman Chemical (NYSE:EMN) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $115.00 to $110.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on EMN. Barclays increased their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Mizuho raised their price target on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their target price on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eastman Chemical currently has an average rating of “Hold” and an average target price of $111.50.

Eastman Chemical Stock Down 0.1 %

Shares of EMN opened at $103.53 on Monday. Eastman Chemical has a 52 week low of $75.50 and a 52 week high of $114.50. The company has a quick ratio of 0.71, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $12.00 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.77 and a beta of 1.44. The stock’s 50-day moving average price is $105.90 and its 200-day moving average price is $101.14.

Eastman Chemical (NYSE:EMN) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 earnings per share. On average, sell-side analysts predict that Eastman Chemical will post 7.61 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new position in shares of Eastman Chemical in the 2nd quarter worth about $29,000. Wolff Wiese Magana LLC grew its stake in shares of Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. EntryPoint Capital LLC purchased a new position in Eastman Chemical in the 1st quarter worth approximately $38,000. Rothschild Investment LLC purchased a new position in Eastman Chemical in the 2nd quarter worth approximately $38,000. Finally, Northwest Investment Counselors LLC purchased a new position in Eastman Chemical in the 3rd quarter worth approximately $38,000. 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.