Celanese (NYSE:CE) Price Target Lowered to $55.00 at Wells Fargo & Company

Celanese (NYSE:CE) had its target price lowered by research analysts at Wells Fargo & Company from $75.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.27% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Mizuho decreased their price objective on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. Robert W. Baird reduced their target price on shares of Celanese from $110.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday. Citigroup upgraded Celanese to a “neutral” rating and boosted their price target for the company from $73.00 to $76.00 in a report on Thursday, January 23rd. Morgan Stanley reduced their price objective on Celanese from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada lowered Celanese from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $84.00 to $56.00 in a research report on Thursday. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Celanese has an average rating of “Hold” and a consensus price target of $83.53.

Celanese Stock Performance

Celanese stock opened at $52.75 on Thursday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.34 and a quick ratio of 0.76. The firm has a market capitalization of $5.77 billion, a P/E ratio of -3.79, a price-to-earnings-growth ratio of 1.10 and a beta of 1.17. Celanese has a 1-year low of $51.24 and a 1-year high of $172.16. The company’s 50-day moving average is $68.25 and its 200 day moving average is $97.16.

Celanese (NYSE:CE) last issued its quarterly earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. Celanese had a positive return on equity of 12.86% and a negative net margin of 14.81%. Research analysts forecast that Celanese will post 8.79 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. DT Investment Partners LLC lifted its position in Celanese by 128.8% during the third 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 acquired a new position in shares of Celanese during the fourth quarter worth $25,000. UMB Bank n.a. lifted its holdings in shares of 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 boosted its position in shares of Celanese by 122.5% in 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 in the last quarter. Finally, CKW Financial Group grew its stake in Celanese by 52.9% during the 4th quarter. CKW Financial Group now owns 535 shares of the basic materials company’s stock worth $37,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 98.87% of the company’s stock.

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.