Celanese (NYSE:CE) had its target price dropped by stock analysts at Citigroup from $134.00 to $118.00 in a report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Citigroup’s price objective would suggest a potential upside of 19.58% from the stock’s current price.
Other equities analysts have also recently issued research reports about the company. Morgan Stanley boosted their price target on Celanese from $112.00 to $120.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. JPMorgan Chase & Co. boosted their price target on Celanese from $110.00 to $114.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. KeyCorp boosted their price target on Celanese from $141.00 to $145.00 and gave the company a “$113.06” rating in a research report on Monday, July 23rd. Zacks Investment Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Thursday, October 4th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $134.00 price target on shares of Celanese in a research report on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Celanese presently has a consensus rating of “Buy” and an average target price of $123.53.
Shares of CE stock opened at $98.68 on Thursday. The stock has a market capitalization of $15.39 billion, a P/E ratio of 13.32, a P/E/G ratio of 1.08 and a beta of 1.30. Celanese has a 52-week low of $95.45 and a 52-week high of $119.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.39 and a current ratio of 1.96.
A number of institutional investors and hedge funds have recently made changes to their positions in CE. New York State Teachers Retirement System purchased a new stake in Celanese in the 2nd quarter valued at approximately $100,000. First Bank & Trust boosted its holdings in Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 563 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Celanese by 93.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 699 shares in the last quarter. Squar Milner Financial Services LLC purchased a new stake in Celanese in the 2nd quarter valued at approximately $173,000. Finally, Quantum Capital Management purchased a new stake in Celanese in the 2nd quarter valued at approximately $208,000. 94.86% of the stock is currently owned by institutional investors.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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