Celestica (NYSE:CLS) Now Covered by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. assumed coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $166.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 32.99% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. TD Cowen raised their price objective on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price for the company in a report on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. TD Securities increased their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Celestica Stock Performance

CLS opened at $124.82 on Friday. The firm has a market cap of $14.52 billion, a PE ratio of 33.37 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $110.38 and a 200-day simple moving average of $79.66. Celestica has a fifty-two week low of $36.11 and a fifty-two week high of $144.27.

Insider Transactions at Celestica

In other news, President Todd C. Cooper sold 9,538 shares of Celestica 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 transaction, the president now directly owns 175,426 shares in the company, valued at approximately $22,373,832.04. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 75,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total value of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its stake in shares of Celestica by 39.3% in the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock valued at $70,164,000 after purchasing an additional 214,872 shares during the period. Invst LLC grew its stake in shares of Celestica by 11.7% in the 4th quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after purchasing an additional 1,174 shares during the period. Vise Technologies Inc. boosted its holdings in shares of Celestica by 100.9% in the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock worth $4,113,000 after acquiring an additional 22,387 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $9,378,000. Finally, Tidal Investments LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $495,000. 67.38% of the stock is currently owned by institutional investors.

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.