BMO Capital Markets Lowers Celanese (CE) to Market Perform
BMO Capital Markets cut shares of Celanese (NYSE:CE) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat Ratings reports. The firm currently has $107.00 price objective on the basic materials company’s stock.
A number of other research analysts have also weighed in on the company. Zacks Investment Research restated a hold rating on shares of Celanese in a report on Monday, December 31st. Alembic Global Advisors restated a sell rating on shares of Celanese in a report on Thursday, December 20th. Royal Bank of Canada restated a buy rating and issued a $118.00 target price on shares of Celanese in a report on Thursday, December 20th. Stifel Nicolaus assumed coverage on Celanese in a report on Monday, December 10th. They issued a hold rating and a $100.00 target price on the stock. Finally, Cowen increased their price target on Celanese from $125.00 to $130.00 and gave the company an outperform rating in a research report on Friday, October 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Celanese presently has a consensus rating of Hold and an average price target of $117.42.
NYSE:CE traded up $0.39 on Tuesday, hitting $94.82. The stock had a trading volume of 26,344 shares, 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 PEG ratio of 0.84 and a beta of 1.40. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.40 and a current ratio of 2.08. Celanese has a 52 week low of $82.91 and a 52 week high of $119.29.
Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Celanese by 0.8% in the third quarter. BlackRock Inc. now owns 7,339,316 shares of the basic materials company’s stock worth $836,683,000 after acquiring an additional 58,068 shares during the period. Lyrical Asset Management LP boosted its holdings in shares of Celanese by 3.6% in the third quarter. Lyrical Asset Management LP now owns 3,470,638 shares of the basic materials company’s stock worth $395,653,000 after acquiring an additional 122,213 shares during the period. LSV Asset Management boosted its holdings in shares of Celanese by 1.7% in the third quarter. LSV Asset Management now owns 2,474,039 shares of the basic materials company’s stock worth $282,040,000 after acquiring an additional 42,067 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Celanese by 21.5% in the third quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock worth $237,621,000 after acquiring an additional 369,361 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Celanese by 76.2% in the second quarter. Millennium Management LLC now owns 2,005,758 shares of the basic materials company’s stock worth $222,759,000 after acquiring an additional 867,269 shares during the period. 96.39% 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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