Celanese Co. (NYSE:CE) had its target price cut by Barclays from $80.00 to $76.00 in a research report sent to investors on Monday, AnalystRatingsNetwork.com reports. They currently have an overweight rating on the stock.

Other hedge funds recently bought and sold shares of the company. ING Groep bought a new stake in Celanese during the third quarter worth about $1,883,000. J. Goldman & Company bought a new stake in Celanese during the third quarter worth about $5,177,000. EQIS Capital Management raised its stake in Celanese by 140.7% in the fourth quarter. EQIS Capital Management now owns 9,466 shares of the company’s stock worth $637,000 after buying an additional 5,533 shares during the period. Janus Capital Management raised its stake in Celanese by 883.6% in the third quarter. Janus Capital Management now owns 66,100 shares of the company’s stock worth $3,911,000 after buying an additional 59,380 shares during the period. Finally, Denali Advisors raised its stake in Celanese by 3.7% in the fourth quarter. Denali Advisors now owns 58,400 shares of the company’s stock worth $3,932,000 after buying an additional 2,100 shares during the period.

Shares of Celanese (NYSE:CE) opened at 59.64 on Monday. The stock has a market capitalization of $8.76 billion and a P/E ratio of 29.86. Celanese has a 12-month low of $52.99 and a 12-month high of $74.19. The company has a 50-day moving average of $64.70 and a 200-day moving average of $65.10.

Celanese (NYSE:CE) last announced its earnings results on Thursday, January 21st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.01. During the same quarter in the prior year, the company earned $1.28 EPS. The company earned $1.33 billion during the quarter, compared to the consensus estimate of $1.37 billion. The business’s quarterly revenue was down 14.4% on a year-over-year basis. Equities analysts expect that Celanese will post $6.37 earnings per share for the current fiscal year.

Several other equities analysts have also weighed in on CE. Citigroup Inc. reduced their price objective on shares of Celanese from $70.00 to $64.00 in a research report on Wednesday, October 21st. Macquarie restated a buy rating on shares of Celanese in a research report on Wednesday, October 21st. Deutsche Bank restated a buy rating and set a $80.00 price objective (up previously from $76.00) on shares of Celanese in a research report on Monday, November 16th. SunTrust upgraded shares of Celanese from a neutral rating to a buy rating and set a $80.00 price objective for the company in a research report on Monday, January 11th. Finally, Jefferies Group restated a buy rating and set a $80.00 price objective on shares of Celanese in a research report on Sunday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $72.62.

Celanese Corporation is a technology and specialty materials company. The Company’s business involves processing chemical raw materials, such as methanol, carbon monoxide and ethylene, and natural products, including wood pulp into chemicals, thermoplastic polymers and other chemical-based products. It has four business segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. The Advanced Engineering segment products include polyoxymethylene, ultra-high molecular weight polyethylene, polybutylene terephthalate, and liquid crystal polymers, among others. Consumer Specialties’ products include acetate tow, acetate flakes, acetate film and high intensity sweeteners, among others. Industrial Specialties’ products include conventional emulsions, vinyl acetate ethylene emulsions and ethylene vinyl acetate, among others. Acetyl Intermediates include acetic acid, vinyl acetate monomer, acetic anhydride and acetaldehyde, among others.

12 Month Chart for NYSE:CE

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