Celestica (NYSE:CLS) Sets New 12-Month High on Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares reached a new 52-week high during trading on Friday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $133.66 and last traded at $131.06, with a volume of 4235221 shares traded. The stock had previously closed at $114.15.

CLS has been the topic of several other reports. TD Cowen upped 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. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a report on Friday. Barclays lifted their price target on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on shares of Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Two 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 has a consensus rating of “Moderate Buy” and an average target price of $99.64.

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently modified their holdings of CLS. Whale Rock Capital Management LLC lifted its position in Celestica by 13.0% in the third 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. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica during the 3rd quarter valued at approximately $61,210,000. Point72 Asset Management L.P. lifted its position in Celestica by 38.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after acquiring an additional 301,563 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Celestica by 25.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock valued at $27,413,000 after purchasing an additional 109,972 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd increased its holdings in shares of Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after purchasing an additional 183,300 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Performance

The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 33.04 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 price of $98.48 and a 200-day moving average price of $72.25.

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.