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

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have been given an average rating of “Moderate Buy” by the twenty ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $354.2353.

CLS has been the subject of a number of recent analyst reports. Bank of America initiated coverage on Celestica in a research report on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price objective for the company. Zacks Research raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 5th. Aletheia Capital increased their price objective on shares of Celestica from $330.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Celestica in a report on Wednesday, January 21st. Finally, TD Securities upped their price target on shares of Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research report on Friday, January 30th.

Celestica Stock Performance

Celestica stock opened at $265.03 on Friday. Celestica has a fifty-two week low of $58.05 and a fifty-two week high of $363.40. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 36.91 and a beta of 1.88. The stock has a fifty day moving average of $293.34 and a two-hundred day moving average of $286.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44.

Insider Transactions at Celestica

In related news, President Todd C. Cooper sold 89,484 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total value of $25,722,175.80. Following the completion of the sale, the president directly owned 108,970 shares in the company, valued at approximately $31,323,426.50. This represents a 45.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yann L. Etienvre sold 86,229 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total value of $24,786,526.05. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 297,923 shares of company stock worth $88,027,459 in the last three months. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Thompson Davis & CO. Inc. bought a new stake in Celestica during the second quarter worth approximately $328,000. Allianz Asset Management GmbH increased its holdings in shares of Celestica by 7.3% in the third quarter. Allianz Asset Management GmbH now owns 337,397 shares of the technology company’s stock valued at $83,044,000 after buying an additional 22,863 shares in the last quarter. Light Street Capital Management LLC acquired a new stake in shares of Celestica during the 2nd quarter valued at $26,422,000. Spark Investment Management LLC boosted its stake in shares of Celestica by 17.4% during the 3rd quarter. Spark Investment Management LLC now owns 27,000 shares of the technology company’s stock worth $6,643,000 after acquiring an additional 4,000 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Celestica by 2.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 150,422 shares of the technology company’s stock worth $22,356,000 after acquiring an additional 3,221 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company’s stock.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.