Celanese (NYSE:CE) Price Target Lowered to $82.00 at Jefferies Financial Group

Celanese (NYSE:CE) had its target price decreased by equities research analysts at Jefferies Financial Group from $102.00 to $82.00 in a report issued on Thursday. Jefferies Financial Group’s target price points to a potential upside of 16.25% from the company’s current price.

A number of other brokerages have also recently issued reports on CE. Bank of America dropped their target price on shares of Celanese from $137.00 to $128.00 and set an “underperform” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company downgraded Celanese from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $165.00 to $115.00 in a report on Tuesday, November 5th. Robert W. Baird lowered their target price on Celanese from $150.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 6th. BMO Capital Markets lowered Celanese from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $138.00 to $76.00 in a report on Monday, November 11th. Finally, KeyCorp cut shares of Celanese from an “overweight” rating to a “sector weight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.56.

Celanese Stock Up 1.6 %

NYSE:CE opened at $70.54 on Thursday. The company has a market cap of $7.71 billion, a PE ratio of 7.10, a PEG ratio of 0.77 and a beta of 1.17. The stock has a 50-day simple moving average of $105.19 and a 200 day simple moving average of $125.00. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.76 and a current ratio of 1.37. Celanese has a 52-week low of $68.88 and a 52-week high of $172.16.

Celanese (NYSE:CE) last announced its earnings results on Monday, November 4th. The basic materials company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.85 by ($0.41). Celanese had a return on equity of 13.17% and a net margin of 10.40%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Celanese will post 8.38 EPS for the current fiscal year.

Institutional Trading of Celanese

Several institutional investors and hedge funds have recently modified their holdings of CE. DT Investment Partners LLC lifted its stake in Celanese by 128.8% during 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 in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Celanese during the second quarter valued at approximately $28,000. Key Financial Inc boosted its position in Celanese by 3,933.3% in the second quarter. Key Financial Inc now owns 242 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 236 shares during the last quarter. Rothschild Investment LLC bought a new position in Celanese in the 2nd quarter valued at $40,000. Finally, ORG Partners LLC purchased a new stake in shares of Celanese during the 2nd quarter valued at $40,000. 98.87% of the stock is owned by hedge funds and other institutional investors.

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.