Celestica (NYSE:CLS) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $166.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 39.01% from the stock’s previous close.

A number of other brokerages have also recently commented on CLS. Stifel Nicolaus boosted their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Barclays upped their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. BMO Capital Markets upped their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, eleven have issued 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 $110.83.

Celestica Stock Performance

Shares of CLS stock opened at $119.41 on Friday. Celestica has a 12 month low of $38.80 and a 12 month high of $144.27. The stock has a market cap of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. 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’s fifty day moving average price is $110.78 and its 200-day moving average price is $80.39.

Insider Buying and Selling at Celestica

In other Celestica news, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares in the company, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

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