Eastman Chemical (NYSE:EMN) Stock Rating Lowered by Zacks Research

Eastman Chemical (NYSE:EMN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

Other analysts have also issued research reports about the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $85.00 target price on shares of Eastman Chemical in a research note on Friday, September 25th. Citigroup dropped their price objective on shares of Eastman Chemical from $81.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, September 30th. Mizuho dropped their price objective on Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Wall Street Zen lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Saturday, September 12th. Finally, UBS Group decreased their price objective on shares of Eastman Chemical from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus target price of $74.64.

Eastman Chemical Stock Up 1.7%

Shares of NYSE:EMN opened at $63.54 on Monday. The company has a market capitalization of $7.27 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.78 and a beta of 1.06. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $83.47. The business’s 50-day moving average is $68.06 and its 200-day moving average is $70.53. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities research analysts predict that Eastman Chemical will post 6.37 earnings per share for the current year.

Institutional Investors Weigh In On Eastman Chemical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EMN. Altshuler Shaham Ltd lifted its position in Eastman Chemical by 36.9% during the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 145 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Eastman Chemical by 0.7% in the second quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company’s stock worth $1,389,000 after purchasing an additional 153 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Eastman Chemical by 17.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,134 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 168 shares during the period. Rehmann Capital Advisory Group lifted its stake in shares of Eastman Chemical by 5.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 3,850 shares of the basic materials company’s stock valued at $257,000 after buying an additional 184 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Eastman Chemical by 21.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,193 shares of the basic materials company’s stock worth $91,000 after buying an additional 207 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.