Barclays Cuts Celanese (NYSE:CE) Price Target to $88.00

Celanese (NYSE:CE) had its price target cut by research analysts at Barclays from $101.00 to $88.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Barclays‘s target price would suggest a potential upside of 21.08% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Mizuho lowered their target price on shares of Celanese from $132.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Piper Sandler lowered Celanese from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $150.00 to $98.00 in a report on Friday, November 8th. Wells Fargo & Company downgraded Celanese from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. Royal Bank of Canada decreased their target price on Celanese from $163.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, UBS Group lowered Celanese from a “buy” rating to a “neutral” rating and cut their price target for the stock from $161.00 to $97.00 in a research report on Monday, November 11th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and a consensus price target of $120.59.

Celanese Stock Down 0.4 %

NYSE:CE traded down $0.32 during trading hours on Tuesday, hitting $72.68. The company’s stock had a trading volume of 727,197 shares, compared to its average volume of 931,489. Celanese has a 52-week low of $71.50 and a 52-week 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. The stock has a market capitalization of $7.94 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31. The stock has a fifty day moving average of $121.42 and a 200-day moving average of $133.60.

Celanese (NYSE:CE) last released its quarterly earnings data 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). The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celanese had a net margin of 10.40% and a return on equity of 13.17%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. On average, equities analysts forecast that Celanese will post 8.67 earnings per share for the current year.

Institutional Trading of Celanese

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings in Celanese by 45.1% in the first quarter. Covestor Ltd now owns 689 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 214 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Celanese by 13.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 14,608 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 1,731 shares during the period. UniSuper Management Pty Ltd boosted its holdings in Celanese by 464.6% during the first quarter. UniSuper Management Pty Ltd now owns 7,170 shares of the basic materials company’s stock worth $1,232,000 after buying an additional 5,900 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Celanese by 264.2% during the first quarter. Bessemer Group Inc. now owns 19,441 shares of the basic materials company’s stock worth $3,342,000 after buying an additional 14,103 shares in the last quarter. Finally, Lake Street Advisors Group LLC purchased a new position in Celanese in the first quarter valued at about $380,000. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

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.