Eastman (EMN) is Upgraded by Citigroup to Buy

Eastman (EMN) is Upgraded by Citigroup to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Eastman Chemical Co. is up 3.74% in the last 3-month period. Year-to-Date the stock performance stands at -8.94%.The company shares have dropped -11.35% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $83.90 and the one year low was seen on Sep 29, 2015. The 50-Day Moving Average price is $69.54 and the 200 Day Moving Average price is recorded at $72.74.

Eastman Chemical Company (NYSE:EMN) has lost 2.03% during the past week and dropped 7.91% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 1.21%. Eastman Chemical Company (NYSE:EMN) has underperformed the index by 5.76% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Shares of Eastman Chemical Company (NYSE:EMN) ended Thursday session in red amid volatile trading. The shares closed down 0.29 points or 0.43% at $67.51 with 565,808 shares getting traded. Post opening the session at $67.45, the shares hit an intraday low of $67.28 and an intraday high of $68.25 and the price vacillated in this range throughout the day. The company has a market cap of $10,032 million and the number of outstanding shares have been calculated to be 148,607,530 shares. The 52-week high of Eastman Chemical Company (NYSE:EMN) is $83.9 and the 52-week low is $62.84.

Currently the company Insiders own 0.95% of Eastman Chemical Company shares according to the proxy statements. Institutional Investors own 81.29% of Eastman Chemical Company shares. During last six month period, the net percent change held by insiders has seen a change of 6.95%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Anderson Gary E, director of Eastman Chemical Co, had purchased 1,000 shares on August 26, 2015. The total value of the transaction was $70,090. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Companys segments include Additives & Functional Products, which consists of the rubber additives product lines and the specialty polymers and solvents product lines; Adhesives & Plasticizers, which consists of the adhesives product lines and the plasticizer product lines; Advanced Materials, which consists of plastics Performance Films and Advanced Interlayers product lines; Fibers, which consists of the acetate tow, acetate yarn and acetyl chemical product lines, and Specialty Fluids & Intermediates, which consists of the specialty fluids product lines and oxo and acetyl intermediates product lines. The Advanced Materials segment owns SunTek brand, and has a manufacturing facility and master distribution center in Martinsville, Virginia and nine sales distribution centers to serve the global market.