Celanese (NYSE:CE) Given New $55.00 Price Target at Wells Fargo & Company

Celanese (NYSE:CE) had its price objective decreased by analysts at Wells Fargo & Company from $75.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the basic materials company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 0.26% from the company’s current price.

Other equities analysts also recently issued reports about the company. Vertical Research downgraded Celanese from a “hold” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, October 29th. Robert W. Baird lowered their price objective on Celanese from $110.00 to $67.00 and set an “outperform” rating for the company in a research report on Thursday. Citigroup upgraded Celanese to a “neutral” rating and raised their price objective for the stock from $73.00 to $76.00 in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their target price on Celanese from $102.00 to $82.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley decreased their target price on Celanese from $100.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $94.29.

Celanese Stock Performance

NYSE:CE opened at $54.86 on Thursday. The stock’s 50-day simple moving average is $68.90 and its 200 day simple moving average is $97.98. The firm has a market capitalization of $6.00 billion, a PE ratio of -3.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.37 and a debt-to-equity ratio of 1.47. Celanese has a twelve month low of $52.97 and a twelve month high of $172.16.

Celanese (NYSE:CE) last posted 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. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.36 billion. Celanese had a positive return on equity of 12.01% and a negative net margin of 14.81%. On average, analysts anticipate that Celanese will post 8.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Dodge & Cox boosted its position in shares of Celanese by 100.3% during the fourth quarter. Dodge & Cox now owns 13,618,062 shares of the basic materials company’s stock valued at $942,506,000 after buying an additional 6,818,993 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Celanese by 27.4% during the third quarter. Wellington Management Group LLP now owns 9,460,353 shares of the basic materials company’s stock valued at $1,286,230,000 after buying an additional 2,036,362 shares during the last quarter. State Street Corp boosted its position in shares of 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 buying an additional 136,994 shares during the last quarter. Invesco Ltd. boosted its position in shares of Celanese by 105.0% during the fourth quarter. Invesco Ltd. now owns 3,969,284 shares of the basic materials company’s stock valued at $274,714,000 after buying an additional 2,033,025 shares during the last quarter. Finally, Turtle Creek Asset Management Inc. boosted its position in shares of Celanese by 266.7% during the fourth quarter. Turtle Creek Asset Management Inc. now owns 3,506,440 shares of the basic materials company’s stock valued at $242,681,000 after buying an additional 2,550,334 shares during the last quarter. 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.