Celestica (NYSE:CLS) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Celestica (NYSE:CLS) (TSE:CLS) had its target price increased by equities research analysts at Stifel Nicolaus from $140.00 to $150.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 20.17% from the company’s previous close.

A number of other brokerages have also weighed in on CLS. TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Barclays upped their target price on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group upped their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada upped their price target on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $105.82.

Celestica Price Performance

Shares of NYSE:CLS opened at $124.82 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $36.11 and a twelve month high of $144.27. The stock’s 50 day moving average is $110.38 and its 200-day moving average is $79.66. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 33.37 and a beta of 2.27.

Insider Buying and Selling at Celestica

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. This represents a 9.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the transaction, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLS. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd lifted its position in shares of Celestica by 109.6% during the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after buying an additional 182 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Celestica during the 4th quarter valued at $42,000. R Squared Ltd purchased a new position in shares of Celestica during the 4th quarter valued at $51,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Celestica during the 3rd quarter valued at $30,000. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.