Deutsche Bank Aktiengesellschaft Lowers Eastman Chemical (NYSE:EMN) Price Target to $110.00

Eastman Chemical (NYSE:EMN) had its price objective cut by Deutsche Bank Aktiengesellschaft from $115.00 to $110.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 9.04% from the company’s previous close.

A number of other research analysts also recently commented on EMN. Barclays increased their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a 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 note on Tuesday, July 30th. Mizuho increased their price objective on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective 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. Finally, Wells Fargo & Company decreased their price objective on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $111.64.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $100.88 on Monday. The stock’s 50-day moving average is $105.78 and its two-hundred day moving average is $101.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. Eastman Chemical has a 1-year low of $75.01 and a 1-year high of $114.50. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

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, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts forecast that Eastman Chemical will post 7.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cultivar Capital Inc. purchased a new stake in shares of Eastman Chemical in the second quarter valued at $29,000. Wolff Wiese Magana LLC grew 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 valued at $32,000 after purchasing an additional 200 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Eastman Chemical in the first quarter valued at $38,000. Rothschild Investment LLC acquired a new position in Eastman Chemical in the second quarter valued at $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical during the third quarter valued at about $38,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.