JPMorgan Chase & Co. Issues Positive Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS) (TSE:CLS) had its price target hoisted by JPMorgan Chase & Co. from $360.00 to $410.00 in a report issued on Thursday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other research analysts have also recently commented on CLS. Canaccord Genuity Group boosted their price target on Celestica from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. BMO Capital Markets reissued an “outperform” rating on shares of Celestica in a report on Monday, January 26th. Citigroup lowered their price target on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $400.00 price target on shares of Celestica in a report on Thursday, January 22nd. Finally, Wolfe Research raised Celestica to a “strong-buy” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.78.

Celestica Stock Up 0.2%

NYSE CLS opened at $382.84 on Thursday. The stock’s 50 day moving average is $292.98 and its 200 day moving average is $298.59. The company has a current ratio of 1.44, a quick ratio of 0.88 and a debt-to-equity ratio of 0.34. Celestica has a 12 month low of $78.54 and a 12 month high of $393.00. The stock has a market cap of $44.02 billion, a PE ratio of 53.32 and a beta of 1.88.

Insiders Place Their Bets

In other Celestica news, insider Yann L. Etienvre sold 1,145 shares of Celestica stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total value of $324,618.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Jason Phillips sold 100,000 shares of Celestica stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $308.92, for a total value 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. The trade was a 88.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 297,923 shares of company stock valued at $88,027,459 in the last quarter. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Celestica

Large investors have recently added to or reduced their stakes in the company. Pinney & Scofield Inc. raised its holdings in Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock valued at $44,000 after buying an additional 30 shares during the period. LeConte Wealth Management LLC raised its holdings in Celestica by 3.5% during the 4th quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company’s stock valued at $296,000 after buying an additional 34 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Celestica by 42.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after buying an additional 37 shares during the period. World Equity Group Inc. raised its holdings in Celestica by 1.7% during the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock valued at $558,000 after buying an additional 38 shares during the period. Finally, Terra Nova Asset Management LLC raised its holdings in Celestica by 2.3% during the 4th quarter. Terra Nova Asset Management LLC now owns 1,686 shares of the technology company’s stock valued at $498,000 after buying an additional 38 shares during the period. Institutional investors 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.