Celanese (NYSE:CE – Free Report)’s stock had its “downgrade” rating reissued by stock analysts at 22nd Century Group in a research note issued on Monday, Benzinga reports.
A number of other equities analysts have also recently issued reports on the stock. Bank of America cut shares of Celanese from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $123.00 to $116.00 in a research report on Thursday, June 22nd. Piper Sandler upgraded shares of Celanese from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $105.00 to $120.00 in a research report on Tuesday, April 11th. Barclays dropped their price objective on shares of Celanese from $150.00 to $146.00 in a research note on Thursday, May 11th. Robert W. Baird boosted their price objective on shares of Celanese from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Monday, February 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Celanese from $139.00 to $131.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Celanese presently has an average rating of “Hold” and an average price target of $121.71.
Celanese Price Performance
NYSE:CE traded up $2.25 during trading hours on Monday, hitting $116.37. The stock had a trading volume of 313,078 shares, compared to its average volume of 1,231,539. The company has a 50 day simple moving average of $108.25 and a two-hundred day simple moving average of $110.96. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.67 and a quick ratio of 0.96. Celanese has a one year low of $86.71 and a one year high of $128.35. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 1.61 and a beta of 1.30.
Celanese (NYSE:CE – Free Report) last posted its quarterly earnings data on Tuesday, May 9th. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.35. Celanese had a net margin of 14.85% and a return on equity of 23.75%. The company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $5.54 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that Celanese will post 10.86 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, SVP Thomas Francis Kelly purchased 2,000 shares of Celanese stock in a transaction that occurred on Friday, May 19th. The shares were bought at an average price of $107.29 per share, with a total value of $214,580.00. Following the purchase, the senior vice president now directly owns 47,165 shares of the company’s stock, valued at approximately $5,060,332.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Mark Christopher Murray acquired 1,008 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were purchased at an average price of $101.69 per share, with a total value of $102,503.52. Following the transaction, the senior vice president now directly owns 11,597 shares in the company, valued at $1,179,298.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Thomas Francis Kelly bought 2,000 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was bought at an average price of $107.29 per share, with a total value of $214,580.00. Following the completion of the purchase, the senior vice president now directly owns 47,165 shares in the company, valued at $5,060,332.85. The disclosure for this purchase can be found here. 0.33% of the stock is currently owned by insiders.
Institutional Trading of Celanese
Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in shares of Celanese by 588.2% in the 1st quarter. Versant Capital Management Inc now owns 234 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. WealthPLAN Partners LLC acquired a new position in shares of Celanese in the 1st quarter valued at $25,000. Parkside Financial Bank & Trust lifted its stake in shares of Celanese by 92.6% in the 1st quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 87 shares during the period. Certified Advisory Corp purchased a new stake in Celanese in the 1st quarter worth $27,000. Finally, Ronald Blue Trust Inc. increased its holdings in Celanese by 72.5% in the 4th quarter. Ronald Blue Trust Inc. now owns 357 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. 94.17% of the stock is currently owned by institutional investors and hedge funds.
Celanese Company Profile
Celanese Corporation, a chemical and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company 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.