Barclays Upgrades Eastman Chemical (NYSE:EMN) to “Hold”

Eastman Chemical (NYSE:EMN) was upgraded by research analysts at Barclays to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $85.00 target price on shares of Eastman Chemical in a research report on Friday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastman Chemical in a research note on Thursday, August 13th. The Goldman Sachs Group restated a “neutral” rating and set a $75.00 price target on shares of Eastman Chemical in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price target on shares of Eastman Chemical from $74.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $76.64.

Eastman Chemical Trading Down 0.2%

Shares of NYSE:EMN opened at $62.87 on Monday. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $83.47. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The business’s 50 day moving average price is $68.93 and its 200-day moving average price is $70.84.

Eastman Chemical (NYSE:EMN) last released its quarterly 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. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities research analysts forecast that Eastman Chemical will post 6.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eastman Chemical

A number of large investors have recently made changes to their positions in EMN. BlackRock Inc. purchased a new position in Eastman Chemical during the second quarter worth approximately $1,134,421,000. Dimensional Fund Advisors LP boosted its stake in Eastman Chemical by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after buying an additional 338,914 shares during the last quarter. State Street Corp grew its holdings in Eastman Chemical by 0.7% in the 2nd quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock valued at $282,741,000 after buying an additional 29,010 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Eastman Chemical by 39.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after buying an additional 732,693 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Eastman Chemical by 10.1% in the 2nd quarter. Bank of America Corp DE now owns 2,469,976 shares of the basic materials company’s stock valued at $165,439,000 after buying an additional 225,905 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

About Eastman Chemical

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.