Celestica (NYSE:CLS) Upgraded to Strong-Buy at Cibc World Mkts

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by research analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other research firms have also recently issued reports on CLS. Barclays raised their target price on shares of Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday. BMO Capital Markets raised their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen upped their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two equities research 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 company’s stock. Based on data from MarketBeat, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.64.

Celestica Trading Up 8.2 %

NYSE:CLS opened at $123.57 on Friday. The stock has a market cap of $14.38 billion, a P/E ratio of 33.04 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a 1 year low of $32.80 and a 1 year high of $133.66. The stock has a 50-day simple moving average of $98.48 and a 200-day simple moving average of $72.36.

Insider Activity at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated 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 transaction, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Peregrine Capital Management LLC bought a new position in Celestica in the 4th quarter worth approximately $30,000. Optimum Investment Advisors raised its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. R Squared Ltd purchased a new stake in Celestica in the fourth quarter worth $51,000. Financial Management Professionals Inc. purchased a new position in shares of Celestica during the third quarter valued at about $30,000. Finally, UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter valued at approximately $34,000. 67.38% of the stock is owned by institutional investors.

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.