The stock of Celanese Corporation (NYSE:CE) hit a new 52-week high and has $111.40 target or 43.00% above today’s $77.90 share price. The 9 months bullish chart indicates low risk for the $11.26 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $111.40 price target is reached, the company will be worth $4.84 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 134,404 shares traded hands. Celanese Corporation (NYSE:CE) has risen 12.66% since April 12, 2016 and is uptrending. It has outperformed by 7.68% 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 “Outperform” rating given on Friday, April 29 by Cowen & Co. On Monday, November 16 the stock rating was maintained by UBS with “Neutral”. The stock of Celanese Corporation (NYSE:CE) has “Neutral” rating given on Wednesday, September 7 by Citigroup. Cowen & Co maintained the stock with “Market Perform” rating in Friday, January 29 report. RBC Capital Markets initiated it with “Sector Perform” rating and $68 target price in Wednesday, October 14 report. The firm earned “Buy” rating on Friday, July 15 by Citigroup. The firm has “Buy” rating given on Monday, April 18 by Citigroup. As per Wednesday, October 21, the company rating was maintained by RBC Capital Markets. Nomura maintained Celanese Corporation (NYSE:CE) on Wednesday, October 19 with “Neutral” rating. Macquarie Research maintained the stock with “Outperform” rating in Tuesday, October 20 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 improved, 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.
Hsbc Holdings Public Ltd has invested 0.01% of its portfolio in Celanese Corporation (NYSE:CE). Liberty Mutual Group Inc Asset Management Inc has 0.01% invested in the company for 3,100 shares. Royal London Asset Management Ltd accumulated 48,335 shares or 0.05% of the stock. Sir Capital Lp accumulated 181,500 shares or 1.77% of the stock. Moreover, Primecap Ca has 0.06% invested in Celanese Corporation (NYSE:CE) for 827,300 shares. Nomura Asset Communications holds 0.02% of its portfolio in Celanese Corporation (NYSE:CE) for 17,670 shares. Cushing Asset Mngmt Lp, a Texas-based fund reported 47,447 shares. Parallax Volatility Advisers L P accumulated 1,102 shares or 0% of the stock. Moreover, Mizuho Asset Mngmt Coltd has 0.03% invested in Celanese Corporation (NYSE:CE) for 2,339 shares. Credit Agricole S A accumulated 0.08% or 330,940 shares. Blackrock Fund has 1.55M shares for 0.02% of their US portfolio. Sumitomo Mitsui Asset Mgmt has 0.02% invested in the company for 10,017 shares. Gateway Investment Advisers Limited Com holds 0.04% or 62,394 shares in its portfolio. Evercore Wealth Mngmt Ltd Liability Corp owns 600,944 shares or 1.75% of their US portfolio. Teachers Advsr Inc has 323,533 shares for 0.04% of their US portfolio.
More news for Celanese Corporation (NYSE:CE) were recently published by: Businesswire.com, which released: “Celanese Takes Top Honors at SPE Annual Awards Gala” on November 14, 2016. Seekingalpha.com‘s article titled: “Celanese Corporation: Q3 2016 Results Set A Foundation For 2017” and published on October 26, 2016 is yet another important article.
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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