Celestica (NYSE:CLS) Coverage Initiated by Analysts at Stifel Nicolaus

Analysts at Stifel Nicolaus began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $140.00 price target on the technology company’s stock. Stifel Nicolaus’ target price would suggest a potential downside of 2.46% from the stock’s current price.

Several other analysts have also issued reports on CLS. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. TD Securities raised their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. TD Cowen lifted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Trading Up 8.8 %

Shares of CLS stock opened at $143.53 on Tuesday. The stock has a market cap of $16.70 billion, a P/E ratio of 38.38 and a beta of 2.27. Celestica has a 1 year low of $35.56 and a 1 year high of $144.27. 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 stock has a 50 day simple moving average of $101.31 and a 200 day simple moving average of $73.83.

Insider Buying and Selling

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at $1,235,278.08. The trade was a 42.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Todd C. Cooper sold 9,538 shares of the firm’s stock in a transaction on 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 transaction, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 819,381 shares of company stock worth $100,109,569 in the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

A number of hedge funds have recently bought and sold shares of the company. Optimum Investment Advisors increased its stake in shares of Celestica by 66.7% in the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Truist Financial Corp increased its stake in Celestica by 2.0% in the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after purchasing an additional 214 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Celestica by 26.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock valued at $67,000 after buying an additional 275 shares in the last quarter. UMB Bank n.a. raised its position in shares of Celestica by 43.6% during the fourth 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 acquired a new position in Celestica during the fourth quarter worth $30,000. 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.