Celanese (NYSE:CE) Given New $55.00 Price Target at Wells Fargo & Company

Celanese (NYSE:CE) had its price target cut by stock analysts at Wells Fargo & Company from $75.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 0.26% from the company’s current price.

Other analysts have also issued reports about the company. Jefferies Financial Group lowered their target price on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, October 29th. Bank of America upgraded Celanese from an “underperform” rating to a “buy” rating and lowered their target price for the company from $95.00 to $88.00 in a research note on Tuesday, January 14th. Morgan Stanley lowered their target price 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Celanese from a “hold” rating to a “buy” rating and decreased their price objective for the company from $135.00 to $110.00 in a research note on Wednesday, November 6th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Celanese presently has a consensus rating of “Hold” and a consensus price target of $94.29.

Celanese Stock Performance

Shares of Celanese stock opened at $54.86 on Thursday. The business’s fifty day simple moving average is $68.90 and its 200 day simple moving average is $97.98. The firm has a market capitalization of $6.00 billion, a P/E ratio of -3.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. Celanese has a 12 month low of $52.97 and a 12 month high of $172.16. The company has a current ratio of 1.37, a quick ratio of 0.76 and a debt-to-equity ratio of 1.47.

Celanese (NYSE:CE) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates 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 12.01% and a negative net margin of 14.81%. As a group, analysts anticipate 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. DT Investment Partners LLC lifted its stake in shares of Celanese by 128.8% in the 3rd quarter. DT Investment Partners LLC now owns 183 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 103 shares during the last quarter. Altshuler Shaham Ltd bought a new position in Celanese during the 4th quarter valued at approximately $25,000. UMB Bank n.a. raised its position in Celanese by 103.7% during 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 last quarter. State of Wyoming raised 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 valued at $34,000 after purchasing an additional 267 shares during the last quarter. Finally, CKW Financial Group raised its position in 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 purchasing an additional 185 shares during the last quarter. Institutional investors 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.