Today’s Price Action: Time to Reconsider Celanese Corporation After Achieving All Time High?

Today's Price Action: Time to Reconsider Celanese Corporation After Achieving All Time High?

The stock of Celanese Corporation (NYSE:CE) reached all time high today, Nov, 15 and still has $109.55 target or 40.00% above today’s $78.25 share price. This indicates more upside for the $11.43B company. This technical setup was reported by Barchart.com. If the $109.55 PT is reached, the company will be worth $4.57B 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 53,398 shares traded hands. Celanese Corporation (NYSE:CE) has risen 13.42% since April 13, 2016 and is uptrending. It has outperformed by 9.50% 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. $81 is the highest target while $64 is the lowest. The $72.70 average target is -7.09% below today’s ($78.25) stock price. Celanese has been the topic of 25 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Monday, November 16 by RBC Capital Markets. On Friday, April 29 the stock rating was upgraded by Cowen & Co to “Outperform”. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, October 14. Citigroup maintained the shares of CE in a report on Friday, July 15 with “Buy” rating. Cowen & Co maintained the shares of CE in a report on Friday, January 29 with “Market Perform” rating. The stock of Celanese Corporation (NYSE:CE) has “Buy” rating given on Monday, April 18 by Citigroup. The firm has “Positive” rating given on Friday, July 1 by Susquehanna. The stock has “Overweight” rating given by KeyBanc Capital Markets on Friday, October 7. The firm has “Buy” rating given on Monday, January 11 by SunTrust. On Tuesday, January 5 the stock rating was upgraded by Citigroup to “Buy”.

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.
Royal London Asset Mgmt Ltd accumulated 48,335 shares or 0.05% of the stock. Burney last reported 0.02% of its portfolio in the stock. Toronto Dominion Fincl Bank accumulated 810 shares or 0% of the stock. The British Columbia – Canada-based British Columbia Invest Management has invested 0.05% in Celanese Corporation (NYSE:CE). Sir Mngmt Ltd Partnership owns 181,500 shares or 1.77% of their US portfolio. Barclays Public Ltd Co accumulated 158,182 shares or 0.01% of the stock. Dimensional Fund Advsrs L P last reported 0.02% of its portfolio in the stock. Wealthtrust holds 0.04% of its portfolio in Celanese Corporation (NYSE:CE) for 1,102 shares. Alexandria Ltd holds 58 shares or 0% of its portfolio. Lord Abbett And Communications Limited Com has invested 0.15% of its portfolio in Celanese Corporation (NYSE:CE). Price T Rowe Inc Md owns 381,968 shares or 0.01% of their US portfolio. Invesco Ltd holds 0% or 114,274 shares in its portfolio. Banced owns 3,639 shares or 0.4% of their US portfolio. Baldwin Invest Mngmt Limited Liability has 16,475 shares for 0.46% of their US portfolio. The Texas-based Carlson Capital L P has invested 0.17% in Celanese Corporation (NYSE:CE).

More news for Celanese Corporation (NYSE:CE) were recently published by: Seekingalpha.com, which released: “Celanese Corp: Too High To Buy?” 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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