Piper Sandler has recently reduced Celanese Corporation (CE) stock to Neutral rating, as announced on September 5, 2024, according to Finviz. Earlier, on August 5, 2024, JP Morgan had raised the stock from a Underweight to Neutral, setting a price target of $130 for CE stock. JP Morgan also reduced Underweight rating with a price target of $160. Additionally, Barclays reduced Equal Weight rating on April 4, 2024, with a target price of $170. Piper Sandler analysts, in their report published on February 26, 2024, also raised Overweight rating and set a price target of $170 for Celanese Corporation’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Celanese Corporation (CE) Stock Trading Recap
On Monday, Celanese Corporation (CE) stock saw a decline, ending the day at $135.96 which represents a decrease of $-3.33 or -2.39% from the prior close of $139.29. The stock opened at $138.63 and touched a low of $134.83 during the day, reaching a high of $139.02. The volume of shares traded was 0.86 million falling short of the average volume of 0.93 million.
CE Stock Performance and Moving Averages
In recent trading, Celanese Corporation (CE) stock price has shown some volatility, fluctuating 6.44% over the last five trades and 4.54% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -20.56%, and it has gained 3.25% in the previous three months. Currently, CE is trading at 7.60%, 4.83%, and -6.81% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CE, a Basic Materials sector stock, is trading -21.03% below its 52-week high but remains 22.75% above its 52-week low. The Average True Range (ATR) (14 days) of 4.01 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Celanese Corporation’s Profitability and Valuation Ratios
Celanese Corporation’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 11.04% and a profit margin of 18.24%, with a gross margin of -20.56%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Celanese Corporation’s market capitalization stands at $14.85 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 7.73, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 10.58. Additionally, the Price-to-Sales Ratio is 1.41, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 2.07, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.43% of Celanese Corporation (CE)’s shares, while financial institutions hold 103.35%.
Notable insider trades include Richardson Scott A, EVP & COO at Celanese Corporation (CE), who sold 4675 shares on Aug 19 ’24, at $129.51 each, totaling $0.61 million. On Aug 20 ’24, Richardson Scott A, EVP & COO, sold 4675 shares for $129.41 each, amounting to $0.60 million. Additionally, on Mar 14 ’24, Richardson Scott A sold 2000 shares at $156.85 each, generating $0.31 million.
