Today’s Market Runner: Is Buying Celanese Corporation Here a Winning Strategy?

Today's Market Runner: Is Buying Celanese Corporation Here a Winning Strategy?

The stock of Celanese Corporation (NYSE:CE) reached all time high today, Nov, 30 and still has $84.28 target or 6.00% above today’s $79.51 share price. This indicates more upside for the $11.28 billion company. This technical setup was reported by Barchart.com. If the $84.28 PT is reached, the company will be worth $676.80M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 239,077 shares traded hands. Celanese Corporation (NYSE:CE) has risen 7.92% since April 27, 2016 and is uptrending. It has outperformed by 2.69% the S&P500.

Analysts await Celanese Corporation (NYSE:CE) to report earnings on January, 19. They expect $1.50 earnings per share, up 20.00% or $0.25 from last year’s $1.25 per share. CE’s profit will be $212.80M for 13.25 P/E if the $1.50 EPS becomes a reality. After $1.67 actual earnings per share reported by Celanese Corporation for the previous quarter, Wall Street now forecasts -10.18% negative EPS growth.

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) earned “Outperform” rating by Cowen & Co on Friday, April 29. Citigroup upgraded Celanese Corporation (NYSE:CE) on Tuesday, January 5 to “Buy” rating. As per Monday, October 26, the company rating was maintained by Cowen & Co. UBS maintained Celanese Corporation (NYSE:CE) rating on Friday, January 22. UBS has “Neutral” rating and $64 price target. The rating was maintained by Citigroup with “Buy” on Monday, April 18. The firm earned “Overweight” rating on Wednesday, July 27 by Barclays Capital. RBC Capital Markets maintained it with “Sector Perform” rating and $69.0 target price in Wednesday, October 21 report. The stock has “Overweight” rating given by Barclays Capital on Monday, January 25. The stock has “Outperform” rating given by Macquarie Research on Tuesday, October 20. The stock of Celanese Corporation (NYSE:CE) earned “Buy” rating by Zacks on Tuesday, September 1.

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 decreased to 0.85 in 2016 Q2. Its down 0.54, from 1.39 in 2016Q1. The ratio dived, 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.
Cipher Capital Limited Partnership has 72,042 shares for 0.33% of their US portfolio. Pinebridge Lp accumulated 0% or 109 shares. Lba Wealth Management Ltd Co last reported 0.06% of its portfolio in the stock. Jefferies Grp Inc Limited Co accumulated 5,576 shares or 0% of the stock. Wellington Shields Capital Mngmt Ltd holds 7,300 shares or 0.08% of its portfolio. Daiwa Sb Ltd reported 540 shares or 0.01% of all its holdings. Moreover, Zurcher Kantonalbank (Zurich Cantonalbank) has 0.04% invested in Celanese Corporation (NYSE:CE) for 45,833 shares. Smithfield Tru Company holds 0% of its portfolio in Celanese Corporation (NYSE:CE) for 140 shares. Blackrock has invested 0.01% of its portfolio in Celanese Corporation (NYSE:CE). Columbia Prtn L L C Inv Mngmt holds 0.07% of its portfolio in Celanese Corporation (NYSE:CE) for 14,449 shares. Lockheed Martin Investment Management Co last reported 6,000 shares in the company. Da Davidson And last reported 515 shares in the company. Hussman Strategic Advisors holds 32,000 shares or 0.32% of its portfolio. Meeder Asset Inc has 2,050 shares for 0.01% of their US portfolio. Oppenheimer &, a New York-based fund reported 46,320 shares.

More news for Celanese Corporation (NYSE:CE) were recently published by: Businesswire.com, which released: “U.S. International Trade Commission Votes to Investigate Unlawful Importation …” on November 23, 2016. Seekingalpha.com‘s article titled: “Celanese Corp: Too High To Buy?” and published on November 14, 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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