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

Celanese (NYSE:CE - Get Free Report) had its price objective lowered by investment analysts at Piper Sandler from $98.00 to $77.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the basic materials company's stock. Piper Sandler's price objective would suggest a potential upside of 16.21% from the company's current price.

CE has been the subject of several other reports. KeyCorp lowered Celanese from an "overweight" rating to a "sector weight" rating in a research report on Monday, October 7th. Wells Fargo & Company cut shares of Celanese from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. BMO Capital Markets cut shares of Celanese from a "market perform" rating to an "underperform" rating and reduced their price target for the stock from $138.00 to $76.00 in a research report on Monday, November 11th. Barclays lowered their price objective on shares of Celanese from $101.00 to $88.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada reduced their target price on Celanese from $122.00 to $88.00 and set an "outperform" rating on the stock in a report on Thursday, December 19th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Celanese has a consensus rating of "Hold" and a consensus price target of $109.33.

Celanese Trading Up 0.3 %

Shares of NYSE:CE traded up $0.21 during trading on Tuesday, hitting $66.26. 1,789,644 shares of the company's stock were exchanged, compared to its average volume of 2,253,011. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47. The firm has a market cap of $7.24 billion, a P/E ratio of 6.67, a PEG ratio of 0.72 and a beta of 1.18. The firm has a 50-day moving average price of $76.68 and a two-hundred day moving average price of $112.60. Celanese has a 1-year low of $65.50 and a 1-year high of $172.16.

Celanese (NYSE:CE - Get Free Report) last released its 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 return on equity of 13.17% and a net margin of 10.40%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the firm posted $2.50 EPS. Celanese's revenue was down 2.8% on a year-over-year basis. Equities analysts predict that Celanese will post 8.38 earnings per share for the current year.

Institutional Investors Weigh In On Celanese

Large investors have recently made changes to their positions in the stock. Central Pacific Bank Trust Division increased its position in Celanese by 102.2% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,550 shares of the basic materials company's stock worth $315,000 after buying an additional 2,300 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Celanese during the 4th quarter worth approximately $209,000. GAMMA Investing LLC increased its holdings in shares of Celanese by 148.8% during the 4th quarter. GAMMA Investing LLC now owns 4,724 shares of the basic materials company's stock worth $327,000 after acquiring an additional 2,825 shares during the last quarter. Principal Financial Group Inc. raised its stake in Celanese by 11.8% in the 3rd quarter. Principal Financial Group Inc. now owns 128,201 shares of the basic materials company's stock valued at $17,430,000 after acquiring an additional 13,503 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Celanese during the 3rd quarter valued at $1,302,000. Institutional investors and hedge funds own 98.87% of the company's stock.

About Celanese

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.