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

Celanese (NYSE:CE - Get Free Report) was upgraded by equities research analysts at Alembic Global Advisors from a "neutral" rating to an "overweight" rating in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has a $70.00 price target on the basic materials company's stock. Alembic Global Advisors' price objective indicates a potential upside of 22.60% from the stock's current price.

A number of other analysts have also recently commented on CE. BMO Capital Markets cut their price target on shares of Celanese from $73.00 to $46.00 and set an "underperform" rating for the company in a research note on Thursday, February 20th. Piper Sandler lowered their price target on Celanese from $77.00 to $50.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 25th. StockNews.com cut Celanese from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Bank of America decreased their target price on Celanese from $88.00 to $72.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Mizuho reduced their price objective on shares of Celanese from $120.00 to $86.00 and set a "neutral" rating for the company in a research report on Thursday, December 5th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Celanese presently has an average rating of "Hold" and an average price target of $66.18.

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Celanese Stock Up 0.5 %

CE stock traded up $0.28 during midday trading on Monday, hitting $57.10. The company's stock had a trading volume of 27,641,369 shares, compared to its average volume of 1,713,211. The company's fifty day moving average price is $63.00 and its 200 day moving average price is $87.30. Celanese has a twelve month low of $45.94 and a twelve month high of $172.16. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The stock has a market capitalization of $6.24 billion, a P/E ratio of -4.10, a PEG ratio of 1.05 and a beta of 1.23.

Celanese (NYSE:CE - Get Free Report) last released its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. As a group, equities research analysts predict that Celanese will post 8.79 EPS for the current year.

Institutional Investors Weigh In On Celanese

Hedge funds and other institutional investors have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in Celanese during the 4th quarter valued at approximately $25,000. UMB Bank n.a. boosted its holdings 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 worth $26,000 after purchasing an additional 194 shares during the period. State of Wyoming lifted its holdings in shares of Celanese by 122.5% in the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company's stock worth $34,000 after acquiring an additional 267 shares during the last quarter. CKW Financial Group raised its position in Celanese by 52.9% in the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock worth $37,000 after purchasing an additional 185 shares during the period. Finally, LRI Investments LLC boosted its holdings in Celanese by 739.1% during the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 473 shares during the period. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

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.