The stock price of Eastman Chemical Co (NYSE: EMN) has surged by 1.58 when compared to previous closing price of 100.43, but the company has seen a 3.76% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-01 that Eastman (EMN) announces plans to construct a second molecular recycling facility in Longview, TX.
Is It Worth Investing in Eastman Chemical Co (NYSE: EMN) Right Now?
Eastman Chemical Co (NYSE: EMN) has a price-to-earnings ratio of 13.60x that is above its average ratio. Additionally, the 36-month beta value for EMN is 1.55. There are mixed opinions on the stock, with 9 analysts rating it as a “buy,” 2 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
The public float for EMN is 116.85M and currently, short sellers hold a 1.07% ratio of that float. The average trading volume of EMN on April 04, 2024 was 1.15M shares.
EMN’s Market Performance
EMN stock saw an increase of 3.76% in the past week, with a monthly gain of 15.66% and a quarterly increase of 14.14%. The volatility ratio for the week is 1.39%, and the volatility levels for the last 30 days are 1.95% for Eastman Chemical Co (EMN). The simple moving average for the last 20 days is 8.44% for EMN stock, with a simple moving average of 22.12% for the last 200 days.
Analysts’ Opinion of EMN
Many brokerage firms have already submitted their reports for EMN stocks, with Redburn Atlantic repeating the rating for EMN by listing it as a “Buy.” The predicted price for EMN in the upcoming period, according to Redburn Atlantic is $110 based on the research report published on February 15, 2024 of the current year 2024.
UBS, on the other hand, stated in their research note that they expect to see EMN reach a price target of $81, previously predicting the price at $91. The rating they have provided for EMN stocks is “Neutral” according to the report published on November 02nd, 2023.
JP Morgan gave a rating of “Overweight” to EMN, setting the target price at $90 in the report published on October 30th of the previous year.
EMN Trading at 15.24% from the 50-Day Moving Average
After a stumble in the market that brought EMN to its low price for the period of the last 52 weeks, the company was able to rebound, for now settling with 1.26% of gains for the given period.
Volatility was left at 1.95%, however, over the last 30 days, the volatility rate increased by 1.39%, as shares surge +16.86% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +16.74% upper at present.
During the last 5 trading sessions, EMN rose by +3.76%, which changed the moving average for the period of 200-days by +22.92% in comparison to the 20-day moving average, which settled at $94.81. In addition, Eastman Chemical Co saw 13.58% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at EMN starting from Holt Adrian James, who sale 4,735 shares at the price of $87.75 back on Mar 06 ’24. After this action, Holt Adrian James now owns 0 shares of Eastman Chemical Co, valued at $415,519 using the latest closing price.
Costa Mark J, the CEO & Board Chair of Eastman Chemical Co, sale 12,000 shares at $87.60 during a trade that took place back on Mar 01 ’24, which means that Costa Mark J is holding 395,699 shares at $1,051,200 based on the most recent closing price.
Stock Fundamentals for EMN
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.19 for the gross margin
The net margin for Eastman Chemical Co stands at 0.08. The total capital return value is set at 0.09. Equity return is now at value 16.85, with 6.10 for asset returns.
Based on Eastman Chemical Co (EMN), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.28. The debt to equity ratio resting at 0.89. The interest coverage ratio of the stock is 4.76.
Currently, EBITDA for the company is 1.59 billion with net debt to EBITDA at 3.08. When we switch over and look at the enterprise to sales, we see a ratio of 1.49. The receivables turnover for the company is 9.52for trailing twelve months and the total asset turnover is 0.75. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.35.
Conclusion
In conclusion, Eastman Chemical Co (EMN) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
