Celanese (NYSE:CE) was downgraded by equities research analysts at SunTrust Banks from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, The Fly reports.

A number of other equities analysts have also issued reports on CE. Zacks Investment Research lowered Celanese from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 24th. ValuEngine lowered Celanese from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Citigroup reduced their target price on Celanese from $134.00 to $118.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Nomura reduced their target price on Celanese from $120.00 to $108.00 and set a “neutral” rating for the company in a research note on Monday, October 15th. Finally, Vertical Research upgraded Celanese from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $117.42.

Celanese stock opened at $94.76 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.08 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $12.58 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.84 and a beta of 1.40. Celanese has a 1-year low of $82.91 and a 1-year high of $119.29.

Celanese (NYSE:CE) last posted its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.22. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Celanese had a return on equity of 39.39% and a net margin of 18.57%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 EPS. As a group, equities research analysts expect that Celanese will post 11.09 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CE. Deutsche Bank AG increased its stake in shares of Celanese by 105.7% in the 3rd quarter. Deutsche Bank AG now owns 944,890 shares of the basic materials company’s stock valued at $107,712,000 after purchasing an additional 485,564 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Celanese in the 3rd quarter valued at about $45,572,000. JPMorgan Chase & Co. increased its stake in shares of Celanese by 21.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,084,382 shares of the basic materials company’s stock valued at $237,621,000 after purchasing an additional 369,361 shares in the last quarter. Capital Growth Management LP increased its stake in shares of Celanese by 900.0% in the 3rd quarter. Capital Growth Management LP now owns 400,000 shares of the basic materials company’s stock valued at $45,600,000 after purchasing an additional 360,000 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Celanese by 17.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,793,648 shares of the basic materials company’s stock valued at $204,475,000 after purchasing an additional 269,424 shares in the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.

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.

Featured Story: Technical Analysis of Stocks, How Can It Help

The Fly

Analyst Recommendations for Celanese (NYSE:CE)

Receive News & Ratings for Celanese Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celanese and related companies with MarketBeat.com's FREE daily email newsletter.