Wells Fargo analyst Michael Sison maintained a Buy rating on Eastman Chemical (EMN) yesterday. The company’s shares closed last Friday at $60.02.
According to TipRanks.com, Sison is a 5-star analyst with an average return of 11.9% and a 62.0% success rate. Sison covers the Industrial Goods sector, focusing on stocks such as Air Products and Chemicals, Axalta Coating Systems, and Trinity Industries.
Eastman Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $63.00.
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Based on Eastman Chemical’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.21 billion and net profit of $26 million. In comparison, last year the company earned revenue of $2.38 billion and had a net profit of $34 million.
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.
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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.
