Piper Sandler Lowers Celanese (NYSE:CE) Price Target to $50.00

Celanese (NYSE:CE) had its price objective dropped by research analysts at Piper Sandler from $77.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the basic materials company’s stock. Piper Sandler’s price target would indicate a potential downside of 5.14% from the company’s previous close.

CE has been the subject of a number of other research reports. Citigroup upgraded Celanese to a “neutral” rating and increased their target price for the company from $73.00 to $76.00 in a report on Thursday, January 23rd. Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, October 29th. Barclays decreased their price objective on Celanese from $75.00 to $59.00 and set an “equal weight” rating for the company in a research report on Monday. Wells Fargo & Company dropped their target price on Celanese from $75.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, February 20th. Finally, Bank of America lowered their price objective on shares of Celanese from $88.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday. Four 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.31.

Celanese Trading Down 3.1 %

NYSE:CE opened at $52.71 on Tuesday. The stock has a fifty day simple moving average of $67.36 and a 200 day simple moving average of $95.42. The firm has a market capitalization of $5.76 billion, a price-to-earnings ratio of -3.78, a price-to-earnings-growth ratio of 1.05 and a beta of 1.17. Celanese has a 1-year low of $50.82 and a 1-year high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.34 and a debt-to-equity ratio of 1.98.

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

Institutional Trading of Celanese

Several large investors have recently made changes to their positions in CE. Dodge & Cox boosted its holdings in Celanese by 100.3% during the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company’s stock valued at $942,506,000 after acquiring an additional 6,818,993 shares during the period. Wellington Management Group LLP lifted its position in shares of Celanese by 27.4% during the 3rd quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock worth $1,286,230,000 after purchasing an additional 2,036,362 shares during the last quarter. State Street Corp boosted its stake in Celanese by 3.1% during the 3rd quarter. State Street Corp now owns 4,500,813 shares of the basic materials company’s stock valued at $611,931,000 after purchasing an additional 136,994 shares during the period. Invesco Ltd. grew its holdings in Celanese by 105.0% in the 4th quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company’s stock valued at $274,714,000 after buying an additional 2,033,025 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. increased its position in Celanese by 266.7% in the 4th quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company’s stock worth $242,681,000 after buying an additional 2,550,334 shares during the period. 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.