Celanese (NYSE:CE) PT Lowered to $180.00

Celanese (NYSE:CE) had its price target cut by Wells Fargo & Company from $195.00 to $180.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 31.89% from the company’s previous close.

CE has been the subject of a number of other reports. Barclays lowered Celanese from an “overweight” rating to an “equal weight” rating and set a $170.00 price objective for the company. in a report on Thursday, April 4th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $160.00 target price (up from $135.00) on shares of Celanese in a report on Thursday, April 4th. Citigroup upped their target price on Celanese from $150.00 to $167.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Bank of America reduced their price objective on Celanese from $147.00 to $144.00 and set an “underperform” rating for the company in a report on Monday, June 10th. Finally, Robert W. Baird increased their price objective on Celanese from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, May 10th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $160.53.

Celanese Stock Down 1.4 %

CE stock traded down $1.99 during trading on Thursday, reaching $136.48. 80,614 shares of the stock were exchanged, compared to its average volume of 706,450. The firm’s 50 day moving average is $150.82 and its 200 day moving average is $152.77. Celanese has a twelve month low of $109.38 and a twelve month high of $172.16. The company has a current ratio of 1.21, a quick ratio of 0.73 and a debt-to-equity ratio of 1.46. The firm has a market cap of $14.91 billion, a P/E ratio of 7.49, a price-to-earnings-growth ratio of 0.54 and a beta of 1.34.

Celanese (NYSE:CE) last posted its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.17. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.67 billion. Celanese had a return on equity of 14.00% and a net margin of 18.60%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 EPS. As a group, research analysts forecast that Celanese will post 11.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of Celanese by 25.8% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 327 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 67 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Celanese by 7.6% in the fourth quarter. Benjamin Edwards Inc. now owns 979 shares of the basic materials company’s stock worth $152,000 after purchasing an additional 69 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Celanese by 28.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 353 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 78 shares during the last quarter. Wright Investors Service Inc. grew its stake in shares of Celanese by 0.6% in the first quarter. Wright Investors Service Inc. now owns 13,733 shares of the basic materials company’s stock worth $2,360,000 after purchasing an additional 78 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its stake in shares of Celanese by 2.8% in the first quarter. Bleakley Financial Group LLC now owns 2,866 shares of the basic materials company’s stock worth $492,000 after purchasing an additional 79 shares during the last quarter. 98.87% of the stock is owned by institutional investors.

About Celanese

Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. It operates through Engineered Materials and Acetyl Chain. The Engineered Materials segment develops, produces, and supplies specialty polymers for automotive and medical applications, as well as for use in industrial products and consumer electronics.