Celanese (NYSE:CE) Given New $58.00 Price Target at UBS Group

Key Points

• UBS raised its Celanese price target from $53 to $58 but maintained a neutral rating; the new target implies 19.09% upside from the stock’s $48.70 price.
• Analysts overall rate Celanese “Hold,” with a consensus price target of $61.56; 10 analysts recommend Buy, eight Hold, and one Sell.
• In its latest quarter, Celanese reported EPS of $1.65, beating estimates of $1.56, while revenue of $2.56 billion fell short of forecasts; revenue increased 5.7% year over year.

Celanese (NYSE:CE - Get Free Report) had its price target boosted by research analysts at UBS Group from $53.00 to $58.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the basic materials company's stock. UBS Group's target price would suggest a potential upside of 19.09% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada lifted their price objective on shares of Celanese from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 13th. Citigroup increased their target price on shares of Celanese from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, November 4th. Barclays raised their price target on shares of Celanese from $49.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 4th. Wells Fargo & Company decreased their price target on shares of Celanese from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Celanese from $76.00 to $77.00 and gave the company an "overweight" rating in a research report on Wednesday, November 4th. Ten analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Celanese presently has an average rating of "Hold" and a consensus price target of $61.56.

Celanese Stock Performance

NYSE:CE traded down $0.05 during trading hours on Tuesday, reaching $48.70. 766,850 shares of the stock were exchanged, compared to its average volume of 2,061,397. The company has a quick ratio of 0.87, a current ratio of 1.26 and a debt-to-equity ratio of 2.19. The firm has a 50 day simple moving average of $46.45 and a 200-day simple moving average of $51.45. Celanese has a 52 week low of $35.13 and a 52 week high of $70.70. The stock has a market capitalization of $5.35 billion, a P/E ratio of 20.55, a P/E/G ratio of 0.35 and a beta of 0.72.

Celanese (NYSE:CE - Get Free Report) last issued its earnings results on Monday, November 2nd. The basic materials company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.56 by $0.09. Celanese had a return on equity of 13.63% and a net margin of 2.66%. The company had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $1.34 EPS. The business's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Celanese will post 6.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Robinhood Asset Management LLC acquired a new position in shares of Celanese in the 2nd quarter valued at $6,581,000. Assenagon Asset Management S.A. purchased a new position in Celanese in the 3rd quarter worth about $19,131,000. Bank of New York Mellon Corp acquired a new stake in Celanese during the 2nd quarter worth about $31,261,000. Tejara Capital Ltd acquired a new stake in Celanese during the 2nd quarter worth about $2,916,000. Finally, Callan Family Office LLC purchased a new stake in Celanese during the second quarter valued at about $1,026,000. 98.87% of the stock is owned by institutional investors and hedge funds.

Celanese Company Profile

Celanese Corporation is a global chemicals and specialty materials company that develops and manufactures engineered polymers and acetyl-based products. Its materials are used in applications across industries including automotive, consumer goods, medical, industrial, paints and coatings, and adhesives. The company's portfolio includes engineered thermoplastics and other polymers, as well as acetyl products such as acetic acid, vinyl acetate monomer, and related emulsions and derivatives. These materials are used in products ranging from vehicle components and medical devices to packaging, coatings, and construction materials.

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