Deutsche Bank Aktiengesellschaft Lowers Celanese (NYSE:CE) Price Target to $70.00

Celanese (NYSE:CE) had its target price cut by equities research analysts at Deutsche Bank Aktiengesellschaft from $85.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 33.96% from the company’s current price.

CE has been the topic of several other reports. BMO Capital Markets lowered their target price on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating on the stock in a research note on Thursday. Piper Sandler dropped their price target on Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird reduced their price objective on Celanese from $110.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday. Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price for the company. in a research report on Tuesday, October 29th. Finally, Mizuho reduced their price target on shares of Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $83.53.

Celanese Stock Performance

Shares of NYSE CE traded down $2.66 during trading on Thursday, reaching $52.25. 1,177,764 shares of the stock traded hands, compared to its average volume of 2,478,695. The stock has a market capitalization of $5.71 billion, a P/E ratio of -3.73, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. Celanese has a 52-week low of $52.02 and a 52-week high of $172.16. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.37 and a quick ratio of 0.76. The company has a 50-day moving average of $68.90 and a 200-day moving average of $97.98.

Celanese (NYSE:CE) last posted its earnings results on Tuesday, February 18th. The basic materials company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.20. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a positive return on equity of 12.01% and a negative net margin of 14.81%. Analysts forecast that Celanese will post 8.79 EPS for the current fiscal year.

Institutional Trading of Celanese

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its stake in shares of Celanese by 137.8% during the 3rd quarter. Blue Trust Inc. now owns 1,284 shares of the basic materials company’s stock worth $173,000 after buying an additional 744 shares during the period. Raymond James & Associates grew its position in shares of Celanese by 6.5% in the third quarter. Raymond James & Associates now owns 78,790 shares of the basic materials company’s stock valued at $10,712,000 after purchasing an additional 4,794 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Celanese by 512.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 118,149 shares of the basic materials company’s stock worth $16,064,000 after acquiring an additional 98,860 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Celanese in the 3rd quarter valued at about $269,000. Finally, Greenleaf Trust grew its position in Celanese by 4.6% in the third quarter. Greenleaf Trust now owns 7,329 shares of the basic materials company’s stock worth $996,000 after acquiring an additional 325 shares during the period. 98.87% of the stock is 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. 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.