Celestica (NYSE:CLS) Trading Up 5.5% After Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 5.5% during trading on Wednesday after Barclays raised their price target on the stock from $91.00 to $139.00. Barclays currently has an overweight rating on the stock. Celestica traded as high as $102.61 and last traded at $99.72. 1,956,201 shares were traded during trading, a decline of 48% from the average session volume of 3,726,272 shares. The stock had previously closed at $94.48.

Other research analysts have also recently issued reports about the company. TD Securities upped their price objective on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target on the stock. BMO Capital Markets raised their price objective 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 boosted their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, TD Cowen increased their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.18.

Insider Transactions at Celestica

In related news, Director Michael Wilson sold 25,000 shares of Celestica 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 transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Large investors have recently bought and sold shares of the stock. Optimum Investment Advisors grew its position in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in shares of Celestica in the 3rd quarter valued at about $30,000. UMB Bank n.a. purchased a new position in shares of Celestica in the 3rd quarter valued at about $34,000. Private Trust Co. NA raised its position in shares of Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica during the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Price Performance

The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 36.22 and a beta of 2.25. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average of $97.80 and a 200-day moving average of $71.75.

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.