Celestica (NYSE:CLS) Shares Gap Up After Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped up prior to trading on Tuesday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $87.36, but opened at $91.65. Celestica shares last traded at $91.17, with a volume of 2,142,439 shares traded.

A number of other research analysts have also recently issued reports on the company. Canaccord Genuity Group raised their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Royal Bank of Canada raised their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Stifel Nicolaus raised their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised their target price on 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 assumed coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective on the stock. Two 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.64.

Insider Transactions at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction on Monday, January 6th. The stock was 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 represents a 93.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the 3rd quarter valued at about $61,210,000. Whale Rock Capital Management LLC lifted its holdings in shares of Celestica by 13.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Celestica by 1,697.3% in the 3rd quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock valued at $11,936,000 after acquiring an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd lifted its holdings in shares of Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after acquiring an additional 183,300 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Trading Down 9.1 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock’s fifty day moving average is $98.48 and its 200 day moving average is $72.36. The stock has a market cap of $13.05 billion, a P/E ratio of 29.52 and a beta of 2.27.

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.