Celanese (NYSE:CE) Given New $57.00 Price Target at Bank of America

Celanese (NYSE:CE) had its price target trimmed by Bank of America from $59.00 to $57.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the basic materials company’s stock.

Several other research firms have also commented on CE. Alembic Global Advisors set a $60.00 target price on shares of Celanese in a research note on Monday, August 25th. Citigroup raised shares of Celanese from a “neutral” rating to a “buy” rating and increased their target price for the company from $47.00 to $53.00 in a research note on Thursday, October 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Celanese in a research note on Wednesday, October 8th. Mizuho increased their target price on shares of Celanese from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada cut their target price on shares of Celanese from $63.00 to $45.00 and set a “sector perform” rating for the company in a research note on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.11.

Celanese Trading Up 1.7%

Shares of NYSE:CE opened at $40.84 on Tuesday. The company has a 50 day moving average of $44.54 and a 200-day moving average of $49.27. The firm has a market cap of $4.47 billion, a P/E ratio of -2.76, a P/E/G ratio of 1.82 and a beta of 1.13. Celanese has a twelve month low of $36.29 and a twelve month high of $136.68. The company has a current ratio of 2.05, a quick ratio of 1.22 and a debt-to-equity ratio of 2.22.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.06. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.50 billion. Celanese had a negative net margin of 16.30% and a positive return on equity of 10.48%. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.38 EPS. Celanese has set its Q3 2025 guidance at 1.100-1.400 EPS. As a group, analysts anticipate that Celanese will post 8.79 earnings per share for the current fiscal year.

Insider Activity at Celanese

In other news, Director Timothy Go purchased 1,039 shares of Celanese stock in a transaction that occurred on Monday, September 8th. The stock was acquired at an average price of $46.25 per share, for a total transaction of $48,053.75. Following the transaction, the director owned 4,415 shares in the company, valued at $204,193.75. The trade was a 30.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Celanese

Several hedge funds have recently made changes to their positions in CE. Assenagon Asset Management S.A. increased its stake in Celanese by 437.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 737,289 shares of the basic materials company’s stock valued at $31,025,000 after buying an additional 600,229 shares during the period. Sanders Morris Harris LLC acquired a new position in Celanese in the 3rd quarter valued at approximately $210,000. Osaic Holdings Inc. increased its stake in Celanese by 28.5% in the 2nd quarter. Osaic Holdings Inc. now owns 4,503 shares of the basic materials company’s stock valued at $249,000 after buying an additional 998 shares during the period. Hudson Bay Capital Management LP increased its stake in Celanese by 138.5% in the 2nd quarter. Hudson Bay Capital Management LP now owns 100,165 shares of the basic materials company’s stock valued at $5,542,000 after buying an additional 58,165 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in Celanese by 111.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 513 shares of the basic materials company’s stock valued at $28,000 after buying an additional 270 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Celanese Company Profile

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.