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

Shares of Celestica, Inc. (NYSE:CLS) (TSE:CLS) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $356.5882.

A number of research analysts recently weighed in on the stock. TD Securities lifted their price objective on shares of Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Canaccord Genuity Group raised 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. The Goldman Sachs Group lifted their price target on Celestica from $340.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. New Street Research set a $400.00 price objective on Celestica in a report on Wednesday, October 29th. Finally, Bank of America initiated coverage on Celestica in a research note on Wednesday, January 28th. They issued a “buy” rating and a $400.00 target price for the company.

Celestica Trading Up 2.2%

Shares of Celestica stock opened at $280.86 on Monday. Celestica has a 52-week low of $58.05 and a 52-week high of $363.40. The stock’s 50-day simple moving average is $304.95 and its 200 day simple moving average is $276.57. The stock has a market capitalization of $32.31 billion, a P/E ratio of 39.12 and a beta of 1.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.47.

Insider Activity

In other news, President Todd C. Cooper sold 89,484 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the transaction, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. The trade was a 45.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $287.45, for a total transaction of $24,786,526.05. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 297,923 shares of company stock worth $88,027,459. 0.52% of the stock is owned by company insiders.

Institutional Trading of Celestica

A number of hedge funds have recently made changes to their positions in CLS. Golden State Wealth Management LLC boosted its stake in shares of Celestica by 102.5% during the second quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Celestica during the 4th quarter valued at $28,000. Swiss RE Ltd. purchased a new stake in Celestica during the 4th quarter valued at $29,000. Cullen Frost Bankers Inc. purchased a new stake in Celestica during the 4th quarter valued at $30,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after acquiring an additional 37 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

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.