Celestica (NYSE:CLS) Shares Up 5.5% Following Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 5.5% during trading on Wednesday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $102.61 and last traded at $99.72. 1,956,201 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 3,726,272 shares. The stock had previously closed at $94.48.

Other analysts have also issued reports about the stock. Barclays raised their price objective on shares of Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group raised their price target on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Cowen upped their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Finally, Royal Bank of Canada lifted their price objective on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.64.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of Celestica 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 transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors have recently bought and sold shares of the business. Whale Rock Capital Management LLC grew its stake in Celestica by 13.0% during 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 in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica during the 3rd quarter valued at about $61,210,000. Point72 Asset Management L.P. increased its holdings in shares of Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after purchasing an additional 301,563 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after buying an additional 109,972 shares in the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd grew its holdings in Celestica by 53.8% during 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 buying an additional 183,300 shares in the last quarter. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Trading Down 3.3 %

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 firm has a market cap of $12.85 billion, a P/E ratio of 33.04 and a beta of 2.27. The stock has a 50 day simple moving average of $98.48 and a 200-day simple moving average of $72.36.

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.