.png "Eastman Chemical (NYSE: EMN)")
After Citigroup and Deutsche Bank gave Eastman Chemical (NYSE: EMN) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Jeffrey Zekauskas maintained a Buy rating on Eastman Chemical today and set a price target of $70.00. The company’s shares closed last Monday at $59.44.
According to TipRanks.com, Zekauskas is a 4-star analyst with an average return of 3.3% and a 63.3% success rate. Zekauskas covers the Industrial Goods sector, focusing on stocks such as Air Products and Chemicals, Axalta Coating Systems, and Westlake Chemical.
Eastman Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $65.73, an 11.8% upside from current levels. In a report released yesterday, Wells Fargo also maintained a Buy rating on the stock.
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Eastman Chemical’s market cap is currently $8.16B and has a P/E ratio of 11.00. The company has a Price to Book ratio of -16.85.
Based on the recent corporate insider activity of 29 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.
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 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.
