CIBC Cuts Celestica (NYSE:CLS) Price Target to $120.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price cut by CIBC from $150.00 to $120.00 in a research note published on Tuesday morning, MarketBeat.com reports. They currently have an outperformer rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on CLS. Stifel Nicolaus lifted their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. started coverage on Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price target for the company. 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 Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Barclays lifted their target price on Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.25.

Celestica Price Performance

Shares of CLS opened at $84.12 on Tuesday. The business’s fifty day moving average is $95.46 and its 200 day moving average is $90.43. Celestica has a 12-month low of $40.25 and a 12-month high of $144.27. 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 stock has a market cap of $9.75 billion, a P/E ratio of 22.49 and a beta of 2.09.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mionis sold 441,325 shares of Celestica stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. This trade represents a 45.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 934,381 shares of company stock worth $116,673,769. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several institutional investors have recently added to or reduced their stakes in the business. Independent Advisor Alliance raised its position in shares of Celestica by 0.3% in the fourth quarter. Independent Advisor Alliance now owns 29,588 shares of the technology company’s stock valued at $2,731,000 after purchasing an additional 79 shares during the period. Jones Financial Companies Lllp grew its stake in Celestica by 4.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,034 shares of the technology company’s stock valued at $188,000 after buying an additional 89 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Celestica by 5.4% during the 4th quarter. CoreCap Advisors LLC now owns 1,760 shares of the technology company’s stock valued at $162,000 after acquiring an additional 90 shares during the period. Pinpoint Asset Management Ltd lifted its position in shares of Celestica by 109.6% during the fourth quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after acquiring an additional 182 shares in the last quarter. Finally, Bay Rivers Group boosted its holdings in shares of Celestica by 1.1% in the first quarter. Bay Rivers Group now owns 19,494 shares of the technology company’s stock worth $1,536,000 after acquiring an additional 215 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

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.