KeyBanc Maintains a Buy Rating on Eastman Chemical (EMN)


KeyBanc analyst Aleksey Yefremov maintained a Buy rating on Eastman Chemical (EMN) today and set a price target of $122.00. The company’s shares closed last Thursday at $106.48, close to its 52-week high of $110.27.

According to TipRanks.com, Yefremov is a 4-star analyst with an average return of 16.6% and a 67.5% success rate. Yefremov covers the Basic Materials sector, focusing on stocks such as Axalta Coating Systems, Pq Group Holdings, and Albemarle.

Currently, the analyst consensus on Eastman Chemical is a Moderate Buy with an average price target of $108.25.

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Based on Eastman Chemical’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $2.12 billion and net profit of $161 million. In comparison, last year the company earned revenue of $2.33 billion and had a net profit of $266 million.

Based on the recent corporate insider activity of 36 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. Most recently, in November 2020, Scott V. King, the CAO & Controller of EMN sold 18,000 shares for a total of $1,850,471.

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.

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