Robert W. Baird Cuts Celanese (NYSE:CE) Price Target to $67.00

Celanese (NYSE:CE) had its price objective reduced by stock analysts at Robert W. Baird from $110.00 to $67.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Robert W. Baird’s price target indicates a potential upside of 22.14% from the company’s current price.

Other equities analysts have also issued reports about the company. Barclays lowered their target price on Celanese from $88.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler decreased their target price on shares of Celanese from $98.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, January 7th. Citigroup upgraded Celanese to a “neutral” rating and lifted their price target for the company from $73.00 to $76.00 in a research note on Thursday, January 23rd. Vertical Research lowered Celanese from a “hold” rating to a “sell” rating and set a $130.00 target price on the stock. in a report on Tuesday, October 29th. Finally, Bank of America upgraded Celanese from an “underperform” rating to a “buy” rating and decreased their price target for the stock from $95.00 to $88.00 in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $97.82.

Celanese Stock Down 21.5 %

Shares of NYSE CE opened at $54.86 on Thursday. Celanese has a 12-month low of $52.97 and a 12-month high of $172.16. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. The firm has a market cap of $6.00 billion, a PE ratio of 5.52, a P/E/G ratio of 1.36 and a beta of 1.17. The company’s fifty day simple moving average is $68.90 and its 200 day simple moving average is $97.98.

Celanese (NYSE:CE) last issued its earnings results 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. Celanese had a return on equity of 13.17% and a net margin of 10.40%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. As a group, sell-side analysts forecast that Celanese will post 8.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celanese

Large investors have recently modified their holdings of the stock. State Street Corp grew its holdings in Celanese by 3.1% during the third 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. KBC Group NV grew its stake in shares of Celanese by 155.5% during the 3rd quarter. KBC Group NV now owns 213,657 shares of the basic materials company’s stock worth $29,049,000 after acquiring an additional 130,037 shares during the period. Zacks Investment Management increased its holdings in Celanese by 6.5% in the 3rd quarter. Zacks Investment Management now owns 160,443 shares of the basic materials company’s stock worth $21,814,000 after acquiring an additional 9,782 shares during the last quarter. National Pension Service increased its holdings in Celanese by 21.7% in the 3rd quarter. National Pension Service now owns 233,480 shares of the basic materials company’s stock worth $31,744,000 after acquiring an additional 41,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Celanese by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 990,901 shares of the basic materials company’s stock valued at $134,723,000 after acquiring an additional 69,606 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

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.