Piper Sandler Lowers Celanese (NYSE:CE) Price Target to $77.00

Celanese (NYSE:CE) had its price target lowered by investment analysts at Piper Sandler from $98.00 to $77.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the basic materials company’s stock. Piper Sandler’s price target indicates a potential upside of 16.76% from the stock’s previous close.

Several other brokerages have also recently issued reports on CE. UBS Group cut shares of Celanese from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $161.00 to $97.00 in a report on Monday, November 11th. Morgan Stanley dropped their price target on shares of Celanese from $140.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Mizuho dropped their price target on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Jefferies Financial Group dropped their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Finally, Wells Fargo & Company cut shares of Celanese from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $165.00 to $115.00 in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $109.33.

Celanese Trading Down 0.3 %

NYSE:CE opened at $65.95 on Tuesday. The company’s 50 day moving average price is $77.89 and its 200-day moving average price is $113.10. Celanese has a 52 week low of $65.50 and a 52 week high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 6.63, a PEG ratio of 0.72 and a beta of 1.18.

Celanese (NYSE:CE) last posted its quarterly earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.85 by ($0.41). Celanese had a net margin of 10.40% and a return on equity of 13.17%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Celanese will post 8.38 earnings per share for the current fiscal year.

Institutional Trading of Celanese

Several hedge funds have recently bought and sold shares of CE. DT Investment Partners LLC raised its position in shares of Celanese by 128.8% during the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after buying an additional 103 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Celanese during the 2nd quarter valued at about $28,000. Mather Group LLC. raised its position in shares of Celanese by 124.0% during the 3rd quarter. Mather Group LLC. now owns 401 shares of the basic materials company’s stock valued at $55,000 after buying an additional 222 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Celanese by 1,395.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 643 shares of the basic materials company’s stock valued at $87,000 after buying an additional 600 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Celanese during the 3rd quarter valued at about $89,000. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Company Profile

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.