In a report released yesterday, Michael Sison from Wells Fargo assigned a Hold rating to Eastman Chemical (EMN – Research Report), with a price target of $89.00. The company’s shares closed yesterday at $99.26.
According to TipRanks, Sison is a 5-star analyst with an average return of 8.9% and a 59.30% success rate. Sison covers the Basic Materials sector, focusing on stocks such as Albemarle, Ashland, and Celanese.
Currently, the analyst consensus on Eastman Chemical is a Moderate Buy with an average price target of $93.83, which is a -5.47% downside from current levels. In a report released on March 21, Barclays also assigned a Hold rating to the stock with a $85.00 price target.
EMN market cap is currently $11.18B and has a P/E ratio of 12.72.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EMN in relation to earlier this year. Earlier this month, Adrian James Holt, the SVP, Chf HR Ofcr of EMN sold 4,735.00 shares for a total of $415,519.00.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Eastman Chemical (EMN) Company Description:
Eastman Chemical Co. engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets. The Advanced Materials segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets. The Chemical Intermediates segment consists of large scale and vertical integration from the cellulose and acetyl, olefins, and alkylamines streams to support operating segments with advantaged cost positions. The Fiber segment offers cellulose acetate tow for use in filtration media, primarily cigarette filters. The company was founded by George Eastman in 1920 and is headquartered in Kingsport, TN.
