Eastman Chemical Co (NYSE: EMN) has seen a rise in its stock price by 1.77 in relation to its previous close of 106.38. However, the company has experienced a 8.67% gain in its stock price over the last five trading sessions. zacks.com reported 2024-09-06 that While EMN faces headwinds from weak demand and inventory de-stocking in certain markets, it benefits from cost management, pricing actions and innovation.
Is It Worth Investing in Eastman Chemical Co (NYSE: EMN) Right Now?
Eastman Chemical Co (NYSE: EMN) has a price-to-earnings ratio that is above its average at 14.55x. The stock has a 36-month beta value of 1.44. Opinions on the stock are mixed, with 9 analysts rating it as a “buy,” 2 as “overweight,” 7 as “hold,” and 0 as “sell.”
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The public float for EMN is 116.12M, and at present, short sellers hold a 1.48% of that float. On September 20, 2024, the average trading volume of EMN was 856.19K shares.
EMN’s Market Performance
The stock of Eastman Chemical Co (EMN) has seen a 8.67% increase in the past week, with a 11.24% rise in the past month, and a 10.38% gain in the past quarter. The volatility ratio for the week is 2.24%, and the volatility levels for the past 30 days are at 2.00% for EMN. The simple moving average for the last 20 days is 7.51% for EMN stock, with a simple moving average of 14.66% for the last 200 days.
Analysts’ Opinion of EMN
Many brokerage firms have already submitted their reports for EMN stocks, with UBS repeating the rating for EMN by listing it as a “Buy.” The predicted price for EMN in the upcoming period, according to UBS is $128 based on the research report published on May 23, 2024 of the current year 2024.
Jefferies, on the other hand, stated in their research note that they expect to see EMN reach a price target of $125, previously predicting the price at $102. The rating they have provided for EMN stocks is “Buy” according to the report published on April 29th, 2024.
Redburn Atlantic gave a rating of “Buy” to EMN, setting the target price at $110 in the report published on February 15th of the current year.
EMN Trading at 9.38% 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 0.21% of gains for the given period.
Volatility was left at 2.00%, however, over the last 30 days, the volatility rate increased by 2.24%, as shares surge +9.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.65% upper at present.
During the last 5 trading sessions, EMN rose by +8.67%, which changed the moving average for the period of 200-days by +26.68% in comparison to the 20-day moving average, which settled at $101.16. In addition, Eastman Chemical Co saw 20.53% 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 1,975 shares at the price of $99.22 back on Jun 03 ’24. After this action, Holt Adrian James now owns 0 shares of Eastman Chemical Co, valued at $195,960 using the latest closing price.
LICH BRAD A, the EVP & CCO of Eastman Chemical Co, sale 23,028 shares at $100.51 during a trade that took place back on May 15 ’24, which means that LICH BRAD A is holding 68,793 shares at $2,314,544 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 16.19, with 5.94 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 0.26. The debt to equity ratio resting at 0.89. The interest coverage ratio of the stock is 5.04.
Currently, EBITDA for the company is 1.59 billion with net debt to EBITDA at 3.02. When we switch over and look at the enterprise to sales, we see a ratio of 1.57. The receivables turnover for the company is 8.22for trailing twelve months and the total asset turnover is 0.73. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.40.
Conclusion
To sum up, Eastman Chemical Co (EMN) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
