Celanese (NYSE:CE) Given New $50.00 Price Target at Piper Sandler

Celanese (NYSE:CE) had its price objective dropped by analysts at Piper Sandler from $77.00 to $50.00 in a 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 suggest a potential downside of 5.44% from the company’s current price.

CE has been the subject of several other research reports. BMO Capital Markets reduced their price target on shares of Celanese from $73.00 to $46.00 and set an “underperform” rating for the company in a research report on Thursday, February 20th. Mizuho lowered their price target on Celanese from $120.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, December 5th. Robert W. Baird reduced their price objective on Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a report on Thursday, February 20th. Jefferies Financial Group reduced their price target on shares of Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Finally, UBS Group decreased their target price on Celanese from $72.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Four 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $76.31.

Celanese Stock Up 0.2 %

Shares of NYSE:CE opened at $52.88 on Tuesday. Celanese has a 12-month low of $50.82 and a 12-month high of $172.16. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of -3.80, a PEG ratio of 1.05 and a beta of 1.17. The stock has a fifty day simple moving average of $67.95 and a two-hundred day simple moving average of $96.23. The company has a current ratio of 1.34, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98.

Celanese (NYSE:CE) last announced its quarterly earnings data on Tuesday, February 18th. The basic materials company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.25 by $0.20. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a negative net margin of 14.81% and a positive return on equity of 12.86%. On average, research analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celanese

Several large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd purchased a new position in shares of Celanese during the fourth quarter worth approximately $25,000. UMB Bank n.a. increased its holdings in Celanese by 103.7% during the 4th quarter. UMB Bank n.a. now owns 381 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares during the period. State of Wyoming raised its position in Celanese by 122.5% during the 4th quarter. State of Wyoming now owns 485 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 267 shares in the last quarter. CKW Financial Group lifted its holdings in shares of Celanese by 52.9% in 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 period. Finally, LRI Investments LLC grew its position in shares of Celanese by 739.1% during the 4th quarter. LRI Investments LLC now owns 537 shares of the basic materials company’s stock worth $37,000 after buying an additional 473 shares in the last quarter. 98.87% of the stock is owned by hedge funds and other institutional investors.

About Celanese

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.