The stock of Celanese Corporation (NYSE:CE) reached all time high today, Nov, 10 and still has $105.24 target or 37.00% above today’s $76.82 share price. This indicates more upside for the $11.40 billion company. This technical setup was reported by Barchart.com. If the $105.24 PT is reached, the company will be worth $4.22 billion 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 129,786 shares traded hands. Celanese Corporation (NYSE:CE) has risen 12.87% since April 8, 2016 and is uptrending. It has outperformed by 7.22% 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. As per Monday, January 11, the company rating was upgraded by SunTrust. RBC Capital Markets maintained the stock with “Sector Perform” rating in Monday, November 16 report. The stock of Celanese Corporation (NYSE:CE) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, October 14. The rating was downgraded by Zacks on Tuesday, September 1 to “Buy”. The firm has “Positive” rating by Susquehanna given on Friday, July 1. Barclays Capital maintained it with “Overweight” rating and $76 target price in Monday, January 25 report. The stock of Celanese Corporation (NYSE:CE) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, October 21. The company was downgraded on Wednesday, September 7 by Citigroup. The rating was upgraded by Cowen & Co to “Outperform” on Friday, April 29. Nomura maintained Celanese Corporation (NYSE:CE) on Wednesday, October 19 with “Neutral” rating.
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 2016 Q2. Its up 0.23, from 1.16 in 2016Q1. The ratio increased, 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.
Fin Architects has 0.02% invested in the company for 970 shares. Glg Ltd has 8,578 shares for 0.04% of their US portfolio. Gateway Invest Advisers Ltd Llc last reported 62,394 shares in the company. Wellington Mgmt Grp Inc Llp accumulated 0.14% or 8.00M shares. Teachers Advsrs Incorporated reported 323,533 shares or 0.04% of all its holdings. Columbia Prtnrs L L C Invest Mgmt has invested 0.07% of its portfolio in Celanese Corporation (NYSE:CE). The Montana-based Da Davidson Company has invested 0% in Celanese Corporation (NYSE:CE). Moreover, Gmt Corporation has 7.89% invested in Celanese Corporation (NYSE:CE) for 4.98 million shares. Sir Cap Lp owns 181,500 shares or 1.77% of their US portfolio. Keybank National Association Oh, a Ohio-based fund reported 17,867 shares. Capital One Natl Association accumulated 13,712 shares or 0.07% of the stock. Daiwa Secs Grp Inc Inc Inc owns 3,600 shares or 0% of their US portfolio. Marble Harbor Counsel Ltd Liability accumulated 0.09% or 5,750 shares. Meiji Yasuda Life Insurance holds 12,890 shares or 0.13% of its portfolio. Amer Gru holds 10,068 shares or 0% of its portfolio.
Another recent and important Celanese Corporation (NYSE:CE) news was published by Seekingalpha.com which published an article titled: “Celanese Corporation: Q3 2016 Results Set A Foundation For 2017” on October 26, 2016.
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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