Celestica (NYSE:CLS) Price Target Raised to $425.00 at Canadian Imperial Bank of Commerce

Celestica (NYSE:CLS) (TSE:CLS) had its price target boosted by Canadian Imperial Bank of Commerce from $360.00 to $425.00 in a research note released on Tuesday morning,BayStreet.CA reports. Canadian Imperial Bank of Commerce currently has an outperformer rating on the technology company’s stock.

CLS has been the topic of a number of other reports. Barclays raised their price target on shares of Celestica from $359.00 to $391.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Susquehanna began coverage on shares of Celestica in a research report on Wednesday, April 1st. They issued a “positive” rating and a $375.00 price target on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $400.00 price target on shares of Celestica in a research report on Thursday, January 22nd. TD Securities raised 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. Finally, Canaccord Genuity Group raised their price target on shares of Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $359.00.

Celestica Trading Up 5.2%

Celestica stock opened at $384.29 on Tuesday. The firm’s 50-day moving average is $289.12 and its 200-day moving average is $297.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. Celestica has a 1 year low of $77.86 and a 1 year high of $392.12. The company has a market cap of $44.18 billion, a P/E ratio of 53.52 and a beta of 1.88.

Insider Buying and Selling

In related news, insider Yann L. Etienvre sold 1,145 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $283.51, for a total value of $324,618.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Jason Phillips sold 100,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the completion of the sale, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. This trade represents a 88.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 in the last quarter. Company insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several large investors have recently bought and sold shares of the stock. Osbon Capital Management LLC acquired a new position in Celestica during the 4th quarter valued at about $755,000. World Investment Advisors increased its stake in Celestica by 13.2% during the 4th quarter. World Investment Advisors now owns 1,532 shares of the technology company’s stock valued at $453,000 after buying an additional 179 shares during the period. Corient Private Wealth LLC increased its stake in Celestica by 16.3% during the 4th quarter. Corient Private Wealth LLC now owns 9,348 shares of the technology company’s stock valued at $2,764,000 after buying an additional 1,308 shares during the period. SHP Wealth Management acquired a new position in Celestica during the 4th quarter valued at about $60,000. Finally, Tobam increased its stake in Celestica by 29.8% during the 4th quarter. Tobam now owns 2,101 shares of the technology company’s stock valued at $621,000 after buying an additional 482 shares during the period. Institutional investors and hedge funds own 67.38% of the company’s stock.

About Celestica

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.