Celestica Inc. (NYSE:CLS) Given Consensus Rating of “Buy” by Brokerages

Celestica Inc. (NYSE:CLS) (TSE:CLS) has received an average recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $103.25.

Several brokerages recently weighed in on CLS. Royal Bank of Canada increased 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. JPMorgan Chase & Co. reduced their target price on shares of Celestica from $166.00 to $105.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Barclays upped their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, TD Securities boosted their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th.

Insider Activity

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the company’s stock in a transaction 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 approximately $1,235,278.08. This represents a 42.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of Celestica stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 934,381 shares of company stock worth $116,673,769 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in Celestica in the 4th quarter valued at $385,000. Raymond James Financial Inc. acquired a new position in shares of Celestica in the fourth quarter valued at about $47,685,000. Schechter Investment Advisors LLC bought a new position in Celestica during the fourth quarter worth about $294,000. American Century Companies Inc. raised its stake in Celestica by 16.4% in the 4th quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock worth $20,217,000 after purchasing an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management bought a new stake in Celestica in the 4th quarter valued at about $286,000. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Stock Down 4.1 %

CLS opened at $80.61 on Tuesday. The firm has a market cap of $9.35 billion, a P/E ratio of 21.55 and a beta of 2.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. Celestica has a twelve month low of $40.25 and a twelve month high of $144.27. The business has a 50 day moving average price of $92.71 and a 200 day moving average price of $91.64.

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.