Celanese (CE) Rating Increased to Buy at UBS

Celanese (NYSE:CE) was upgraded by investment analysts at UBS from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, 247wallst.com reports. The firm currently has a $113.00 price objective on the basic materials company’s stock, up from their previous price objective of $111.10. UBS’s price objective indicates a potential downside of 0.79% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Robert W. Baird reissued a “buy” rating and issued a $130.00 price target on shares of Celanese in a report on Monday, January 29th. Deutsche Bank reissued a “buy” rating and issued a $128.00 price target on shares of Celanese in a report on Monday, January 29th. Jefferies Group reissued a “buy” rating and issued a $130.00 price target on shares of Celanese in a report on Monday, January 29th. Citigroup increased their price target on Celanese from $123.00 to $128.00 and gave the company a “buy” rating in a report on Monday, January 29th. Finally, Zacks Investment Research raised Celanese from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Tuesday, January 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $114.96.

Shares of Celanese opened at $113.90 on Wednesday, according to MarketBeat.com. The stock has a market capitalization of $14.71 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31. Celanese has a one year low of $108.54 and a one year high of $111.17. The company has a quick ratio of 1.28, a current ratio of 1.88 and a debt-to-equity ratio of 0.91.

Celanese (NYSE:CE) last issued its quarterly earnings results on Monday, April 16th. The basic materials company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.46. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.66 billion. Celanese had a return on equity of 35.22% and a net margin of 15.69%. Celanese’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.81 earnings per share. research analysts anticipate that Celanese will post 9.24 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Celanese by 2.5% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,257,233 shares of the basic materials company’s stock worth $226,197,000 after purchasing an additional 54,237 shares during the last quarter. Covey Capital Advisors LLC lifted its holdings in shares of Celanese by 11.3% in the 1st quarter. Covey Capital Advisors LLC now owns 33,827 shares of the basic materials company’s stock worth $3,390,000 after purchasing an additional 3,425 shares during the last quarter. Highbridge Capital Management LLC lifted its holdings in shares of Celanese by 779.7% in the 1st quarter. Highbridge Capital Management LLC now owns 18,352 shares of the basic materials company’s stock worth $1,839,000 after purchasing an additional 21,052 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Celanese by 231.1% in the 1st quarter. Millennium Management LLC now owns 1,138,489 shares of the basic materials company’s stock worth $114,088,000 after purchasing an additional 794,690 shares during the last quarter. Finally, TLP Group LLC bought a new stake in shares of Celanese in the 1st quarter worth approximately $229,000. 94.42% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Celanese (NYSE:CE)

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