The stock of Celanese Corporation (NYSE:CE) hit a new 52-week high and has $110.24 target or 46.00% above today’s $75.51 share price. The 8 months bullish chart indicates low risk for the $10.76B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $110.24 price target is reached, the company will be worth $4.95 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 520,107 shares traded hands. Celanese Corporation (NYSE:CE) has risen 11.16% since April 7, 2016 and is uptrending. It has outperformed by 6.38% the S&P500.
Celanese Corporation (NYSE:CE) Ratings Coverage
Out of 11 analysts covering Celanese (NYSE:CE), 6 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 55% are positive. Celanese has been the topic of 25 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock of Celanese Corporation (NYSE:CE) has “Neutral” rating given on Wednesday, October 19 by Nomura. The stock of Celanese Corporation (NYSE:CE) earned “Outperform” rating by Macquarie Research on Tuesday, October 20. The company was downgraded on Monday, October 12 by Goldman Sachs. Citigroup downgraded the shares of CE in a report on Wednesday, September 7 to “Neutral” rating. The stock has “Neutral” rating given by UBS on Friday, January 22. As per Wednesday, November 18, the company rating was maintained by Deutsche Bank. KeyBanc Capital Markets initiated Celanese Corporation (NYSE:CE) on Friday, October 7 with “Overweight” rating. The stock of Celanese Corporation (NYSE:CE) earned “Buy” rating by Zacks on Tuesday, September 1. Barclays Capital maintained the shares of CE in a report on Wednesday, July 27 with “Overweight” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $69.0 target price in Wednesday, October 21 report.
According to Zacks Investment Research, “Celanese is an integrated global producer of value-added industrial chemicals. They are the world’s largest producer of acetyl products, including acetic acid, vinyl acetate monomer and polyacetals and a leading global producer of high-performance engineered polymers used in consumer and industrial products and designed to meet highly technical customer requirements. Their operations are located in North America, Europe and Asia, including substantial joint ventures in China.”
Insitutional Activity: The institutional sentiment increased to 1.39 in Q2 2016. Its up 0.23, from 1.16 in 2016Q1. The ratio is positive, as 24 funds sold all Celanese Corporation shares owned while 116 reduced positions. 41 funds bought stakes while 153 increased positions. They now own 137.11 million shares or 5.90% less from 145.72 million shares in 2016Q1.
Checchi Capital Advisers accumulated 2,630 shares or 0.02% of the stock. Zacks Management owns 17,717 shares or 0.04% of their US portfolio. Westfield Lp has invested 1% of its portfolio in Celanese Corporation (NYSE:CE). Prudential Fincl Inc accumulated 468,726 shares or 0.05% of the stock. Allen Invest Mngmt Limited Liability holds 6,441 shares or 0.03% of its portfolio. Bessemer Gru Inc, a New Jersey-based fund reported 1,964 shares. Moreover, Dai Ichi Life Insurance Communication Limited has 0.06% invested in Celanese Corporation (NYSE:CE) for 32,930 shares. Los Angeles Equity Rech accumulated 62,665 shares or 0.03% of the stock. Cornerstone Cap Holding Ltd Llc holds 0.01% or 27,446 shares in its portfolio. Moreover, Walthausen & Limited Liability Co has 0.03% invested in Celanese Corporation (NYSE:CE) for 4,090 shares. State Street owns 3.42M shares or 0.02% of their US portfolio. Nuveen Asset Mgmt Ltd Liability Co last reported 17,563 shares in the company. Sumitomo Mitsui Asset Mgmt Limited owns 10,017 shares or 0.02% of their US portfolio. The Illinois-based First Tru Advisors L P has invested 0% in Celanese Corporation (NYSE:CE). Systematic Management L P has invested 0.79% of its portfolio in Celanese Corporation (NYSE:CE).
CE Company Profile
Celanese Corporation (Celanese), incorporated on November 3, 2004, is a technology and specialty materials company. The Firm operates through four divisions: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide, ethylene and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical products. The Firm engineers and makes a range of products, which serves a range of end-use applications, including paints and coatings, textiles, automotive applications, consumer and medical applications, performance industrial applications, filtration applications, paper and packaging, chemical additives, construction, consumer and industrial adhesives, and food and beverage applications. The Firm operates in North America, Europe and Asia, and consists of approximately 20 global production facilities, and approximately eight additional strategic affiliate production facilities.
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