Celanese (NYSE:CE) has been given a $122.00 price objective by Citigroup in a report issued on Monday, TipRanks reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Citigroup‘s price target would suggest a potential upside of 14.46% from the stock’s current price.
Several other equities research analysts have also recently commented on the company. Vertical Research cut Domtar from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Cowen reissued a “buy” rating on shares of Ovid Therapeutics in a research note on Monday, July 1st. Alembic Global Advisors raised Celanese from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $95.00 to $115.00 in a research note on Monday, April 29th. Deutsche Bank boosted their price target on Texas Instruments from $100.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, April 24th. Finally, ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $118.00.
Shares of NYSE CE traded down $1.46 during trading hours on Monday, hitting $106.59. The stock had a trading volume of 698,608 shares, compared to its average volume of 1,096,516. The firm has a market capitalization of $13.56 billion, a P/E ratio of 9.69, a P/E/G ratio of 1.05 and a beta of 1.42. The company’s 50-day moving average price is $103.90. Celanese has a 52 week low of $82.91 and a 52 week high of $119.29. The company has a quick ratio of 1.03, a current ratio of 1.58 and a debt-to-equity ratio of 0.85.
In related news, Director John K. Wulff sold 9,175 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $108.32, for a total value of $993,836.00. Following the completion of the sale, the director now directly owns 19,872 shares in the company, valued at approximately $2,152,535.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Advisory Alpha LLC acquired a new position in shares of Celanese during the first quarter worth approximately $27,000. Investors Research Corp acquired a new position in shares of Celanese during the first quarter worth approximately $41,000. Acima Private Wealth LLC lifted its holdings in shares of Celanese by 28.6% during the first quarter. Acima Private Wealth LLC now owns 450 shares of the basic materials company’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Celanese by 31.3% during the second quarter. Valeo Financial Advisors LLC now owns 524 shares of the basic materials company’s stock worth $56,000 after buying an additional 125 shares during the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of Celanese during the first quarter worth approximately $56,000. Institutional investors own 97.33% of the company’s stock.
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 Engineered Materials, Acetate Tow, and Acetyl Chain segments. 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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