Celanese (CE) is Upgraded by Citigroup to Buy

Celanese (CE) is Upgraded by Citigroup to Buy , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-5-2016.

Celanese Corporation is up 12.55% in the last 3-month period. Year-to-Date the stock performance stands at 14.3%.

Celanese Corporation (NYSE:CE) has lost 0.43% during the past week and dropped 3.87% in the last 4 weeks. The shares have outperformed the S&P 500 by 0.4% in the past week but underperformed the index by 1.62% in the last 4 weeks.

Shares of Celanese Corporation (NYSE:CE) ended Thursday session in red amid volatile trading. The shares closed down 0.11 points or 0.16% at $67.33 with 428,377 shares getting traded. Post opening the session at $67.11, the shares hit an intraday low of $66.8864 and an intraday high of $67.93 and the price vacillated in this range throughout the day. The company has a market cap of $9,878 million and the number of outstanding shares have been calculated to be 146,711,400 shares. The 52-week high of Celanese Corporation (NYSE:CE) is $74.19 and the 52-week low is $52.555.

Currently the company Insiders own 0.42% of Celanese Corporation shares according to the proxy statements. Institutional Investors own 99.82% of Celanese Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -18.2%. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange,The officer (SVP, Finance and CFO) of Celanese Corp, Jensen Christopher W sold 5,100 shares at $60.86 on August 31, 2015. The Insider selling transaction had a total value worth of $310,386. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Celanese Corporation manufactures chemical products. The Companys portfolio consists of five main businesses: Acetyl Products, Chemical Intermediates, Acetate Products, Technical Polymers Ticona and Performance Products. Celanese has 29 production plants, with major operations in North America, Europe and Asia. The Company integrates CoolPoly E-Series, CoolPoly D-Series and CoolPoly Elastomers into its engineered materials portfolio.