Celestica (NYSE:CLS) Rating Increased to Sector Outperform at CIBC

CIBC upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a neutral rating to a sector outperform rating in a research report released on Friday, Marketbeat.com reports. The brokerage currently has $150.00 price target on the technology company’s stock.

Several other research firms have also recently weighed in on CLS. Barclays increased their price target on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Stock Up 8.2 %

Shares of NYSE CLS opened at $123.57 on Friday. Celestica has a 12-month low of $32.80 and a 12-month high of $133.66. The stock has a market cap of $14.38 billion, a PE ratio of 33.04 and a beta of 2.25. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average of $98.48 and a 200 day moving average of $72.18.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in shares of Celestica by 77.3% in the 4th quarter. Global Retirement Partners LLC now owns 1,654 shares of the technology company’s stock worth $153,000 after acquiring an additional 721 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Celestica in the fourth quarter valued at about $30,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Celestica in the fourth quarter valued at about $215,000. Pinnbrook Capital Management LP acquired a new stake in shares of Celestica in the fourth quarter valued at about $4,000,000. Finally, D.A. Davidson & CO. lifted its stake in shares of Celestica by 17.0% in the fourth quarter. D.A. Davidson & CO. now owns 14,250 shares of the technology company’s stock valued at $1,315,000 after purchasing an additional 2,075 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.