JPMorgan Chase & Co. Cuts Celestica (NYSE:CLS) Price Target to $105.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target trimmed by JPMorgan Chase & Co. from $166.00 to $105.00 in a report released on Thursday, MarketBeat Ratings reports. The firm currently has an overweight rating on the technology company’s stock.

CLS has been the topic of a number of other reports. TD Securities lifted 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. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus upped their price objective on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, CIBC decreased their price target on Celestica from $150.00 to $120.00 and set an “outperformer” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Celestica presently has an average rating of “Moderate Buy” and an average price target of $103.25.

Celestica Stock Up 4.4 %

Shares of NYSE CLS opened at $84.12 on Thursday. The business has a 50-day moving average price of $93.69 and a 200 day moving average price of $91.18. The stock has a market cap of $9.75 billion, a PE ratio of 22.49 and a beta of 2.09. 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 $40.25 and a 52-week high of $144.27.

Insider Transactions at Celestica

In other Celestica news, insider Yann L. Etienvre sold 9,181 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alok K. Agrawal sold 6,826 shares of Celestica stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the transaction, the insider now owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock valued at $116,673,769 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Peregrine Capital Management LLC purchased a new position in Celestica during the fourth quarter worth $30,000. Rothschild Investment LLC acquired a new position in Celestica in the 1st quarter valued at about $26,000. Pinpoint Asset Management Ltd lifted its holdings in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock valued at $32,000 after purchasing an additional 182 shares in the last quarter. Bessemer Group Inc. acquired a new stake in shares of Celestica during the 4th quarter worth about $42,000. Finally, R Squared Ltd purchased a new stake in shares of Celestica during the fourth quarter worth about $51,000. 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.