RBC Capital Reaffirms Their Hold Rating on Eastman Chemical

By Ryan Adsit

RBC Capital analyst Deane Dray reiterated a Hold rating on Eastman Chemical (NYSE: EMN) today and set a price target of $85. The company’s shares opened today at $80.54, close to its 52-week high of $82.39.

According to TipRanks.com, Dray is a 4-star analyst with an average return of 6.2% and a 65.9% success rate. Dray covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Emerson Electric Company, and United Technologies Corp.

Eastman Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $87.50.

Eastman Chemical’s market cap is currently $11.82B and has a P/E ratio of 13.34. The company has a book value ratio of 2.5244.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Lewis Kling, a Director at EMN sold 4,000 shares for a total of $319,520.

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 activities include production and distribution a range of advanced materials, chemicals and fibers. It operates through the following segments: Additives & Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment pertains to manufacturing chemicals for products in the coatings and tires industries in transportation, building and construction, durable goods and consumables 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 provides 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 manufactures and sells EstronTM acetate tow and EstrobondTM triacetin plasticizers for use primarily in the manufacture of cigarette filters; EstronTM natural (undyed) and ChromspunTM solution-dyed acetate yarns for use in apparel, home furnishings, and industrial fabrics; and cellulose acetate flake and acetyl raw materials for other acetate fiber producers, including the Company’s new joint venture acetate tow manufacturing facility in Hefei, China. The company was founded by George Eastman in 1918 and is headquartered in Kingsport, TN.