Morgan Stanley Sticks to Its Buy Rating for Eastman Chemical (EMN)

Morgan Stanley analyst Vincent Andrews maintained a Buy rating on Eastman Chemical today and set a price target of $83.00.

Meet Samuel – Your Personal Investing Prophet

• Start a conversation with TipRanks’ trusted, data-backed investment intelligence
• Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds

According to TipRanks, Andrews is a 3-star analyst with an average return of 1.3% and a 55.60% success rate. Andrews covers the Basic Materials sector, focusing on stocks such as Chemours Company, Sherwin-Williams Company, and Mosaic Co.

Eastman Chemical has an analyst consensus of Moderate Buy, with a price target consensus of $83.00.

Based on Eastman Chemical’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.18 billion and a net profit of $107 million. In comparison, last year the company earned a revenue of $2.29 billion and had a net profit of $182 million

Based on the recent corporate insider activity of 39 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 1,709.00 shares for a total of $131,678.45.