Celestica (NYSE:CLS) Upgraded by CIBC to Sector Outperform Rating

CIBC upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a neutral rating to a sector outperform rating in a report issued on Friday morning, Marketbeat reports. CIBC currently has $150.00 target price on the technology company’s stock.

Several other research firms have also recently issued reports on CLS. BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Canaccord Genuity Group boosted their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, TD Securities boosted their target price on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Celestica currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Celestica Stock Performance

NYSE CLS opened at $123.57 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a 52-week low of $32.80 and a 52-week high of $133.66. The business’s 50-day moving average price is $98.48 and its 200 day moving average price is $72.36. The firm has a market cap of $14.38 billion, a P/E ratio of 33.04 and a beta of 2.25.

Insider Transactions at Celestica

In other news, Director Michael Wilson sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Optimum Investment Advisors lifted its stake in shares of Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Truist Financial Corp lifted its stake in shares of Celestica by 2.0% during the 2nd quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock worth $631,000 after purchasing an additional 214 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares during the period. UMB Bank n.a. lifted its stake in shares of Celestica by 43.6% during the 4th quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock worth $88,000 after purchasing an additional 288 shares during the period. Finally, Peregrine Capital Management LLC purchased a new position in shares of Celestica during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Company Profile

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.