Celanese (NYSE:CE) Rating Increased to Overweight at Alembic Global Advisors

Celanese (NYSE:CE) was upgraded by equities researchers at Alembic Global Advisors from a “neutral” rating to an “overweight” rating in a report released on Monday. The brokerage presently has a $70.00 price objective on the basic materials company’s stock. Alembic Global Advisors’ target price points to a potential upside of 22.60% from the company’s current price.

Other analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Celanese from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. UBS Group dropped their price objective on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Piper Sandler decreased their target price on Celanese from $77.00 to $50.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Robert W. Baird lowered their target price on Celanese from $110.00 to $67.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Jefferies Financial Group reduced their price objective on Celanese from $102.00 to $82.00 in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.18.

Celanese Price Performance

CE opened at $57.10 on Monday. The stock has a fifty day moving average price of $63.63 and a 200 day moving average price of $88.74. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. Celanese has a 1 year low of $45.94 and a 1 year high of $172.16. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of -4.10, a PEG ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE) last announced its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. Analysts forecast that Celanese will post 8.79 EPS for the current fiscal year.

Institutional Trading of Celanese

A number of institutional investors have recently bought and sold shares of CE. Altshuler Shaham Ltd bought a new stake in shares of Celanese during the fourth quarter worth $25,000. UMB Bank n.a. lifted its stake in shares of Celanese by 103.7% in the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 194 shares during the period. State of Wyoming lifted its position in shares of Celanese by 122.5% during the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 267 shares during the period. CKW Financial Group increased its holdings in shares of Celanese by 52.9% during the fourth quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 185 shares in the last quarter. Finally, LRI Investments LLC raised its holdings in shares of Celanese by 739.1% in the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 473 shares during the last quarter. 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.