Celestica (TSE:CLS) Rating Increased to Strong-Buy at Cibc World Mkts

Celestica (TSE:CLS) (NYSE:CLS) was upgraded by investment analysts at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the company. UBS Group raised Celestica to a “hold” rating in a research note on Friday, November 22nd. Cormark lifted their target price on shares of Celestica from C$93.00 to C$137.00 in a research report on Thursday. BMO Capital Markets upped their price target on shares of Celestica from C$72.00 to C$140.00 in a research report on Thursday. Finally, Barclays upgraded shares of Celestica to a “strong-buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$96.75.

Celestica Price Performance

TSE:CLS opened at C$179.43 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.47 and a debt-to-equity ratio of 52.78. The business’s 50-day moving average price is C$140.97 and its 200 day moving average price is C$101.14. Celestica has a 52-week low of C$43.97 and a 52-week high of C$194.05. The firm has a market cap of C$21.28 billion, a P/E ratio of 42.52, a PEG ratio of 0.14 and a beta of 2.23.

Insider Transactions at Celestica

In other Celestica news, Director Alok K. Agrawal sold 1,550 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of C$119.54, for a total value of C$185,293.91. Also, Senior Officer Jason Phillips sold 18,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$116.94, for a total value of C$2,104,847.21. Over the last quarter, insiders have sold 94,354 shares of company stock worth $10,780,754. Insiders own 1.00% 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.