Celanese (NYSE:CE) Given a $122.00 Price Target at Deutsche Bank

Celanese (NYSE:CE) has been assigned a $122.00 price objective by investment analysts at Deutsche Bank in a research report issued on Tuesday, TipRanks reports. The firm presently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s price target points to a potential upside of 0.12% from the stock’s previous close.

CE has been the subject of several other reports. Vertical Research downgraded shares of Celanese from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. upgraded shares of Celanese from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $102.00 to $120.00 in a research report on Wednesday, July 24th. UBS Group raised their price objective on shares of Celanese from $128.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on shares of Celanese from $115.00 to $120.00 and gave the company a “market perform” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Co began coverage on shares of Celanese in a research report on Tuesday. They issued an “outperform” rating and a $140.00 price target for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $120.35.

CE stock traded up $0.33 during mid-day trading on Tuesday, hitting $121.85. 35,390 shares of the company were exchanged, compared to its average volume of 827,000. The business has a 50 day simple moving average of $119.70 and a 200-day simple moving average of $108.91. The company has a current ratio of 2.04, a quick ratio of 1.32 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $15.04 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.36. Celanese has a 1-year low of $82.91 and a 1-year high of $127.15.

Celanese (NYSE:CE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.36 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.64 billion. Celanese had a net margin of 15.52% and a return on equity of 38.56%. The business’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same period last year, the business posted $2.90 earnings per share. Equities research analysts expect that Celanese will post 10.08 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CE. Veritable L.P. increased its stake in Celanese by 2.5% in the second quarter. Veritable L.P. now owns 3,880 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 95 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Celanese by 75.3% in the second quarter. Rockefeller Capital Management L.P. now owns 256 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. Wesbanco Bank Inc. increased its stake in Celanese by 1.3% in the second quarter. Wesbanco Bank Inc. now owns 9,300 shares of the basic materials company’s stock valued at $1,003,000 after acquiring an additional 115 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Celanese by 31.3% in the second quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock valued at $56,000 after acquiring an additional 125 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Celanese by 2.6% in the second quarter. Cetera Investment Advisers now owns 6,188 shares of the basic materials company’s stock valued at $665,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 98.18% of the company’s stock.

About Celanese

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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.

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Analyst Recommendations for Celanese (NYSE:CE)

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