Piper Sandler Boosts Celanese (NYSE:CE) Price Target to $145.00

Celanese (NYSE:CEGet Rating) had its price objective increased by analysts at Piper Sandler from $140.00 to $145.00 in a report released on Wednesday, The Fly reports. Piper Sandler’s price objective suggests a potential downside of 6.76% from the company’s previous close.

Other analysts also recently issued reports about the company. StockNews.com upgraded Celanese from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th. Bank of America boosted their target price on shares of Celanese from $165.00 to $174.00 and gave the company a “neutral” rating in a research report on Monday, April 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $175.00 price target (down from $185.00) on shares of Celanese in a research report on Sunday, February 20th. Royal Bank of Canada boosted their price objective on shares of Celanese from $198.00 to $206.00 and gave the company an “outperform” rating in a report on Tuesday, February 1st. Finally, Wells Fargo & Company lowered their target price on shares of Celanese from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, February 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Celanese presently has a consensus rating of “Buy” and a consensus price target of $187.81.

NYSE:CE opened at $155.51 on Wednesday. The company has a market cap of $16.84 billion, a P/E ratio of 8.30 and a beta of 1.18. The firm’s fifty day moving average price is $144.08 and its two-hundred day moving average price is $154.20. Celanese has a one year low of $132.26 and a one year high of $176.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.64 and a quick ratio of 1.04.

Celanese (NYSE:CEGet Rating) last announced its earnings results on Thursday, April 28th. The basic materials company reported $5.54 EPS for the quarter, topping the consensus estimate of $4.48 by $1.06. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.26 billion. Celanese had a net margin of 22.31% and a return on equity of 50.03%. Celanese’s revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.46 EPS. As a group, equities research analysts expect that Celanese will post 17.51 earnings per share for the current year.

In related news, SVP Thomas Francis Kelly purchased 1,800 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The shares were bought at an average cost of $141.74 per share, with a total value of $255,132.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake in shares of Celanese by 92.6% in the first quarter. Parkside Financial Bank & Trust now owns 181 shares of the basic materials company’s stock valued at $25,000 after buying an additional 87 shares during the period. Mascoma Wealth Management LLC bought a new stake in Celanese during the 4th quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in Celanese in the 4th quarter valued at approximately $26,000. Clearstead Advisors LLC raised its stake in shares of Celanese by 830.0% during the first quarter. Clearstead Advisors LLC now owns 186 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 166 shares during the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Celanese by 115.4% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 168 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 90 shares during the period. Institutional investors own 93.81% of the company’s stock.

Celanese Company Profile (Get Rating)

Celanese Corporation, a technology and specialty materials company, manufactures and sells high performance engineered polymers in the United States and internationally. The company operates through three segments: Engineered Materials, Acetate Tow, 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.

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