Celanese Corp. (NYSE:CE) gapped up prior to trading on Thursday . The stock had previously closed at $68.83, but opened at $69.06. Celanese Corp. shares last traded at $69.62, with a volume of 184,867 shares trading hands.

CE has been the topic of a number of recent research reports. Alembic Global Advisors lowered Celanese Corp. from a “neutral” rating to an “underweight” rating and upped their target price for the company from $60.00 to $64.00 in a research note on Monday, April 25th. Zacks Investment Research lowered Celanese Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Celanese Corp. in a research note on Thursday, March 24th. Goldman Sachs Group Inc. upped their target price on Celanese Corp. from $65.00 to $67.00 in a research note on Tuesday, April 12th. Finally, Morgan Stanley reaffirmed a “hold” rating and issued a $65.00 target price on shares of Celanese Corp. in a research note on Thursday, June 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $75.31.

The company has a 50 day moving average price of $68.50 and a 200-day moving average price of $66.00. The stock has a market capitalization of $10.41 billion and a price-to-earnings ratio of 32.67.

Celanese Corp. (NYSE:CE) last posted its quarterly earnings data on Monday, April 18th. The company reported $1.83 EPS for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.34. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned $1.72 EPS. Celanese Corp.’s revenue was down 3.2% compared to the same quarter last year. Analysts predict that Celanese Corp. will post $6.60 earnings per share for the current year.

In other Celanese Corp. news, CEO Mark C. Rohr sold 17,200 shares of Celanese Corp. stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $69.50, for a total value of $1,195,400.00. Following the transaction, the chief executive officer now owns 418,464 shares in the company, valued at $29,083,248. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Farah M. Walters sold 14,650 shares of Celanese Corp. stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $68.61, for a total transaction of $1,005,136.50. Following the completion of the transaction, the director now owns 49,686 shares in the company, valued at approximately $3,408,956.46. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of CE. Eaton Vance Management raised its position in Celanese Corp. by 0.4% in the fourth quarter. Eaton Vance Management now owns 27,396 shares of the company’s stock valued at $1,845,000 after buying an additional 110 shares during the period. ARGI Investment Services LLC raised its position in Celanese Corp. by 4.4% in the fourth quarter. ARGI Investment Services LLC now owns 16,662 shares of the company’s stock valued at $1,122,000 after buying an additional 695 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Celanese Corp. by 6.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 19,231 shares of the company’s stock valued at $1,295,000 after buying an additional 1,237 shares during the period. Quantitative Investment Management LLC raised its position in Celanese Corp. by 11.2% in the fourth quarter. Quantitative Investment Management LLC now owns 15,900 shares of the company’s stock valued at $1,070,000 after buying an additional 1,600 shares during the period. Finally, Rhumbline Advisers raised its position in Celanese Corp. by 2.6% in the fourth quarter. Rhumbline Advisers now owns 124,077 shares of the company’s stock valued at $8,354,000 after buying an additional 3,180 shares during the period.

Celanese Corporation (Celanese) is a technology and specialty materials company. The Company operates through four segments: Advanced Engineered Materials, Consumer Specialties, Industrial Specialties and Acetyl Intermediates. Its 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-based products.

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