Celanese (NYSE:CE) Price Target Cut to $52.00 by Analysts at Citigroup

Celanese (NYSE:CE - Get Free Report) had its price target dropped by investment analysts at Citigroup from $58.00 to $52.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. Citigroup's target price would suggest a potential upside of 25.01% from the company's current price.

CE has been the topic of several other research reports. Morgan Stanley dropped their price objective on Celanese from $100.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded Celanese from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Celanese from $70.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Piper Sandler dropped their target price on shares of Celanese from $77.00 to $50.00 and set an "underweight" rating on the stock in a report on Tuesday, February 25th. Finally, Alembic Global Advisors upgraded shares of Celanese from a "neutral" rating to an "overweight" rating and set a $70.00 price target for the company in a report on Monday, March 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $64.72.

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Celanese Trading Up 11.0 %

CE traded up $4.11 during trading hours on Friday, reaching $41.60. 2,269,337 shares of the company's stock traded hands, compared to its average volume of 3,490,762. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98. The firm has a 50-day moving average price of $57.38 and a 200 day moving average price of $79.97. Celanese has a 52-week low of $36.29 and a 52-week high of $169.49. The firm has a market capitalization of $4.55 billion, a PE ratio of -2.99, a PEG ratio of 1.05 and a beta of 1.08.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CE. Altshuler Shaham Ltd acquired a new position in Celanese in the 4th quarter worth approximately $25,000. UMB Bank n.a. lifted its position in Celanese by 103.7% during the fourth 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 grew its position in Celanese by 122.5% during the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company's stock worth $34,000 after purchasing an additional 267 shares during the period. CKW Financial Group raised its stake in shares of Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company's stock valued at $37,000 after buying an additional 185 shares during the last quarter. Finally, LRI Investments LLC lifted 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 valued at $37,000 after buying 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.