Susquehanna Initiates Coverage on Celestica (NYSE:CLS)

Susquehanna initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a report issued on Wednesday, MarketBeat reports. The firm set a “positive” rating and a $375.00 price target on the technology company’s stock. Susquehanna’s target price would indicate a potential upside of 27.25% from the stock’s previous close.

A number of other brokerages have also issued reports on CLS. Wolfe Research raised Celestica to a “strong-buy” rating in a research report on Tuesday, February 17th. TD Cowen reissued a “hold” rating on shares of Celestica in a report on Friday, January 30th. Bank of America assumed coverage on Celestica in a research note on Wednesday, January 28th. They set a “buy” rating and a $400.00 price objective for the company. Canadian Imperial Bank of Commerce dropped their price objective on Celestica from $400.00 to $360.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Finally, TD Securities upped their target price on Celestica from $305.00 to $330.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Celestica has an average rating of “Moderate Buy” and an average price target of $355.39.

Celestica Stock Performance

Celestica stock opened at $294.69 on Wednesday. Celestica has a 12-month low of $58.05 and a 12-month high of $363.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.44 and a quick ratio of 0.88. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 41.04 and a beta of 1.88. The firm’s fifty day moving average price is $285.52 and its 200 day moving average price is $292.34.

Insider Buying and Selling

In other Celestica news, insider Yann L. Etienvre sold 86,229 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Jason Phillips sold 100,000 shares of the 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 transaction, the president directly owned 12,584 shares in the company, valued at approximately $3,887,449.28. This represents a 88.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 297,923 shares of company stock worth $88,027,459. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Celestica

Institutional investors and hedge funds have recently made changes to their positions in the company. Pinney & Scofield Inc. boosted its holdings in Celestica by 20.0% in the third quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock worth $44,000 after purchasing an additional 30 shares during the period. LeConte Wealth Management LLC raised its holdings in shares of Celestica by 3.5% during the fourth quarter. LeConte Wealth Management LLC now owns 1,001 shares of the technology company’s stock worth $296,000 after purchasing an additional 34 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock worth $31,000 after purchasing an additional 37 shares during the period. World Equity Group Inc. lifted its position in shares of Celestica by 1.7% in the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after buying an additional 38 shares during the last quarter. Finally, Terra Nova Asset Management LLC boosted its holdings in shares of Celestica by 2.3% in 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. 67.38% of the stock is owned by institutional investors and hedge funds.

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.