Eastman Chemical (NYSE:EMN) Stock Price Target Cut by Royal Bank Of Canada

Eastman Chemical (NYSE:EMN) had its price target lowered by Royal Bank Of Canada from $74.00 to $65.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 4.43% from the company’s current price.

Several other research firms have also recently weighed in on EMN. UBS Group cut their price objective on Eastman Chemical from $92.00 to $77.00 and set a “buy” rating on the stock in a report on Monday, October 5th. Citigroup decreased their price objective on Eastman Chemical from $81.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Jefferies Financial Group reissued a “buy” rating and set a $85.00 target price on shares of Eastman Chemical in a research note on Friday, September 25th. The Goldman Sachs Group restated a “neutral” rating and set a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Finally, KeyCorp started coverage on shares of Eastman Chemical in a research note on Thursday, September 10th. They issued a “sector weight” rating on the stock. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.64.

Eastman Chemical Trading Up 0.2%

Eastman Chemical stock traded up $0.14 during mid-day trading on Tuesday, hitting $62.24. 79,115 shares of the company’s stock were exchanged, compared to its average volume of 1,370,083. The firm has a market capitalization of $7.12 billion, a P/E ratio of 16.18, a PEG ratio of 0.78 and a beta of 1.06. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company’s 50 day simple moving average is $69.36 and its 200-day simple moving average is $70.96.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities analysts anticipate that Eastman Chemical will post 6.43 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. NorthCrest Asset Manangement LLC bought a new position in shares of Eastman Chemical during the third quarter worth about $307,000. Valley Wealth Managers Inc. lifted its stake in Eastman Chemical by 3.2% in the 3rd quarter. Valley Wealth Managers Inc. now owns 63,718 shares of the basic materials company’s stock valued at $4,131,000 after acquiring an additional 1,975 shares in the last quarter. Wedmont Private Capital bought a new stake in Eastman Chemical in the 3rd quarter valued at approximately $334,000. Farther Finance Advisors LLC lifted its stake in Eastman Chemical by 196.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,116 shares of the basic materials company’s stock valued at $721,000 after acquiring an additional 7,371 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Eastman Chemical by 4.4% during the 3rd quarter. Valeo Financial Advisors LLC now owns 5,346 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 226 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.