Celanese (CE) Lowered to “Market Perform” at BMO Capital Markets
BMO Capital Markets downgraded shares of Celanese (NYSE:CE) from an outperform rating to a market perform rating in a research note released on Tuesday morning, Marketbeat.com reports. They currently have $107.00 target price on the basic materials company’s stock.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Celanese from a strong-buy rating to a hold rating in a report on Monday, September 24th. Nomura reduced their price target on Celanese from $120.00 to $108.00 and set a neutral rating on the stock in a report on Monday, October 15th. ValuEngine downgraded Celanese from a hold rating to a sell rating in a report on Tuesday, October 2nd. Vertical Research upgraded Celanese from a hold rating to a buy rating and set a $125.00 price target on the stock in a report on Wednesday, October 17th. Finally, Citigroup reduced their price target on Celanese from $134.00 to $118.00 and set a buy rating on the stock in a report on Thursday, October 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Celanese presently has a consensus rating of Hold and a consensus target price of $117.42.
CE stock traded up $0.39 during mid-day trading on Tuesday, hitting $94.82. 26,344 shares of the stock were exchanged, compared to its average volume of 2,770,038. The firm has a market cap of $12.58 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.84 and a beta of 1.40. The company has a quick ratio of 1.40, a current ratio of 2.08 and a debt-to-equity ratio of 0.81. Celanese has a 12 month low of $82.91 and a 12 month high of $119.29.
Institutional investors and hedge funds have recently made changes to their positions in the business. CENTRAL TRUST Co raised its stake in Celanese by 17.4% during the 4th quarter. CENTRAL TRUST Co now owns 1,282 shares of the basic materials company’s stock valued at $115,000 after buying an additional 190 shares during the last quarter. First Bank & Trust increased its stake in shares of Celanese by 106.4% in the 3rd quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 563 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Celanese by 875.0% in the 3rd quarter. Parallel Advisors LLC now owns 1,170 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,050 shares in the last quarter. Capital Guardian Trust Co. purchased a new stake in shares of Celanese in the 3rd quarter worth $189,000. Finally, Quantum Capital Management purchased a new stake in shares of Celanese in the 2nd quarter worth $208,000. Institutional investors and hedge funds own 96.39% of the company’s stock.
Celanese Company Profile
Celanese Corporation, a technology and specialty materials company, manufactures and sells value-added chemicals, thermoplastic polymers, and other chemical-based products worldwide. The company operates through Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, and Acetyl Intermediates segments.
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