Celestica (NYSE:CLS) Trading Up 0.4% After Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 0.4% during mid-day trading on Monday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $126.15 and last traded at $123.99. 4,527,884 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 4,716,846 shares. The stock had previously closed at $123.47.

A number of other research analysts have also recently commented on CLS. Royal Bank of Canada upped their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday. TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday. BMO Capital Markets boosted 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. Finally, TD Cowen lifted their target price on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Insider Activity

In other news, Director Michael Wilson sold 25,000 shares of the company’s 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 sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cornerstone Wealth Management LLC bought a new position in Celestica in the 4th quarter worth approximately $385,000. Quantbot Technologies LP lifted its holdings in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after acquiring an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Celestica during the 3rd quarter worth about $61,210,000. Sigma Planning Corp bought a new stake in Celestica during the 3rd quarter worth about $420,000. Finally, Advisors Asset Management Inc. grew its position in shares of Celestica by 61.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after acquiring an additional 12,584 shares during the period. 67.38% of the stock is currently owned by institutional investors.

Celestica Price Performance

The company’s 50-day moving average price is $98.48 and its two-hundred day moving average price is $72.36. The company has a market capitalization of $14.55 billion, a P/E ratio of 33.54 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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.