Celanese Corporation CE was a big mover last session, as the company saw its shares rise over 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $85.23 to $90.74 in the past one-month time frame.
The move came after the chemical maker announced that it has agreed to form a joint venture with funds managed by Blackstone, a leading investment firm, to create a global acetate tow supplier.
The company has seen a mixed track record when it comes to estimate revision(s) of three increases and four decreases over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Celanese Corp currently has a Zacks Rank #3 (Hold) while its Earnings ESP
Celanese Corporation Price and Consensus
Celanese Corporation Price and Consensus | Celanese Corporation Quote
A better-ranked stock in the same sector is Huntsman Corporation HUN , holding a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
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