Celestica (NYSE:CLS) Trading 0.4% Higher After Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS)’s share price rose 0.4% during mid-day trading on Monday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $126.15 and last traded at $123.99. Approximately 4,527,884 shares were traded during trading, a decline of 4% from the average daily volume of 4,716,846 shares. The stock had previously closed at $123.47.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Finally, TD Securities upped their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.27.

Insider Activity

In other news, President Todd C. Cooper sold 9,538 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the sale, the president now owns 175,426 shares of the company’s stock, valued at $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the sale, the insider now owns 83,179 shares in the company, valued at $10,608,649.66. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,790 shares of company stock valued at $12,772,207 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Creative Planning grew its position in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock worth $431,000 after buying an additional 336 shares in the last quarter. Truist Financial Corp grew its holdings in 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 acquiring an additional 214 shares in the last quarter. Cetera Investment Advisers grew its holdings in Celestica by 119.5% during the 2nd quarter. Cetera Investment Advisers now owns 26,271 shares of the technology company’s stock worth $1,504,000 after acquiring an additional 14,305 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Celestica in the 2nd quarter worth about $2,140,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of Celestica in the 3rd quarter valued at about $734,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Stock Up 9.4 %

The firm has a market cap of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27. The firm’s 50-day moving average price is $100.10 and its 200 day moving average price is $73.34. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

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.