Vertical Research upgraded shares of Celanese (NYSE:CE) from a hold rating to a buy rating in a report published on Wednesday morning, MarketBeat.com reports. They currently have $125.00 target price on the basic materials company’s stock.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Celanese from a strong-buy rating to a hold rating in a research report on Monday, September 24th. Barclays upped their target price on shares of Celanese from $140.00 to $145.00 and gave the stock an overweight rating in a research report on Monday, July 30th. ValuEngine lowered shares of Celanese from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Citigroup upped their target price on shares of Celanese from $131.00 to $134.00 and gave the stock a buy rating in a research report on Tuesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Celanese from $110.00 to $114.00 and gave the stock a $113.06 rating in a research report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $124.29.

Shares of CE stock traded up $0.14 during trading hours on Wednesday, reaching $99.89. 21,646 shares of the company were exchanged, compared to its average volume of 884,610. Celanese has a fifty-two week low of $95.45 and a fifty-two week high of $119.29. The firm has a market capitalization of $15.39 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.08 and a beta of 1.30. The company has a current ratio of 1.96, a quick ratio of 1.39 and a debt-to-equity ratio of 0.85.

Celanese (NYSE:CE) last announced its earnings results on Thursday, July 19th. The basic materials company reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.50. Celanese had a net margin of 16.57% and a return on equity of 37.74%. The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.79 earnings per share. Celanese’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities research analysts forecast that Celanese will post 10.57 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new stake in shares of Celanese during the second quarter worth approximately $100,000. First Bank & Trust raised its stake in shares of Celanese by 106.4% during the third quarter. First Bank & Trust now owns 1,092 shares of the basic materials company’s stock worth $127,000 after buying an additional 563 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Celanese by 93.2% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,449 shares of the basic materials company’s stock worth $161,000 after buying an additional 699 shares during the last quarter. Squar Milner Financial Services LLC bought a new stake in shares of Celanese during the second quarter worth approximately $173,000. Finally, Quantum Capital Management bought a new stake in shares of Celanese during the second quarter worth approximately $208,000. 94.86% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Celanese (NYSE:CE)

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