Celanese’s (CE) “Buy” Rating Reaffirmed at Robert W. Baird

Celanese (NYSE:CE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Robert W. Baird in a research report issued to clients and investors on Monday. They presently have a $130.00 target price on the basic materials company’s stock. Robert W. Baird’s target price points to a potential upside of 16.59% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Celanese from a “buy” rating to a “hold” rating in a research note on Friday, December 15th. Tudor Pickering started coverage on shares of Celanese in a research note on Tuesday, November 14th. They set a “buy” rating on the stock. Citigroup cut their price target on shares of Celanese from $122.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, October 18th. UBS Group boosted their price target on shares of Celanese from $100.00 to $107.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. Finally, Instinet reiterated a “neutral” rating and set a $100.00 price target (up from $97.00) on shares of Celanese in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Celanese has a consensus rating of “Buy” and an average price target of $113.28.

Celanese (NYSE CE) traded up $0.14 during midday trading on Monday, reaching $111.50. 499,524 shares of the company’s stock were exchanged, compared to its average volume of 643,380. Celanese has a 52 week low of $83.13 and a 52 week high of $114.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.69 and a quick ratio of 1.16. The firm has a market capitalization of $15,104.42, a PE ratio of 18.35, a P/E/G ratio of 1.49 and a beta of 1.32.

Celanese (NYSE:CE) last posted its earnings results on Thursday, January 25th. The basic materials company reported $1.98 EPS for the quarter, beating the Zacks’ consensus estimate of $1.86 by $0.12. Celanese had a net margin of 13.73% and a return on equity of 33.49%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Celanese’s revenue for the quarter was up 21.5% compared to the same quarter last year. equities research analysts anticipate that Celanese will post 8.32 EPS for the current fiscal year.

In related news, CFO Christopher W. Jensen sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the chief financial officer now directly owns 52,924 shares in the company, valued at $5,821,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its holdings in Celanese by 740.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 51,876 shares of the basic materials company’s stock valued at $5,555,000 after purchasing an additional 45,703 shares in the last quarter. Lourd Capital LLC acquired a new position in Celanese in the fourth quarter valued at approximately $221,000. APG Asset Management N.V. boosted its holdings in Celanese by 1.0% in the fourth quarter. APG Asset Management N.V. now owns 519,301 shares of the basic materials company’s stock valued at $46,308,000 after purchasing an additional 5,100 shares in the last quarter. SG Americas Securities LLC acquired a new position in Celanese in the fourth quarter valued at approximately $726,000. Finally, Cerebellum GP LLC acquired a new position in Celanese in the fourth quarter valued at approximately $129,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

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Celanese Company Profile

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company’s segments include Advanced Engineered Materials, Consumer Specialties, Industrial Specialties, Acetyl Intermediates and Other Activities. The Advanced Engineered Materials segment includes the Company’s engineered materials business and certain affiliates.

Analyst Recommendations for Celanese (NYSE:CE)

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