Eastman Chemical (NYSE:EMN) Price Target Cut to $85.00 by Analysts at Citigroup

Eastman Chemical (NYSE:EMN) had its price target reduced by equities research analysts at Citigroup from $88.00 to $85.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective would suggest a potential upside of 20.73% from the company’s current price.

EMN has been the subject of several other reports. UBS Group boosted their price target on Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Royal Bank Of Canada lifted their target price on Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Morgan Stanley boosted their target price on shares of Eastman Chemical from $73.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Eastman Chemical in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Eastman Chemical Stock Up 1.3%

Shares of EMN traded up $0.93 during mid-day trading on Wednesday, hitting $70.41. The company’s stock had a trading volume of 749,776 shares, compared to its average volume of 1,487,816. The company has a current ratio of 1.47, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average is $73.22 and its 200-day moving average is $71.35. Eastman Chemical has a 52-week low of $56.11 and a 52-week high of $83.47. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 0.91 and a beta of 1.04.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. Eastman Chemical’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $1.91 earnings per share. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. On average, equities research analysts forecast that Eastman Chemical will post 6.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new stake in Eastman Chemical in the fourth quarter valued at $202,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Eastman Chemical by 185.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock valued at $589,000 after buying an additional 4,345 shares during the period. Millennium Management LLC lifted its holdings in shares of Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 79,376 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after buying an additional 183 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in Eastman Chemical during the first quarter worth about $252,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.