Celestica (NYSE:CLS) Trading Up 5.5% Following Analyst Upgrade

Celestica Inc. (NYSE:CLSGet Free Report) (TSE:CLS) shot up 5.5% during mid-day trading on Wednesday after TD Securities raised their price target on the stock from $70.00 to $107.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $102.61 and last traded at $99.72. 1,956,201 shares were traded during mid-day trading, a decline of 48% from the average session volume of 3,726,272 shares. The stock had previously closed at $94.48.

Several other equities research analysts have also recently commented on the company. Stifel Nicolaus raised their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. TD Cowen raised their price target on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets lifted their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. UBS Group began coverage on Celestica in a research report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus target price of $84.82.

View Our Latest Research Report on CLS

Insider Activity

In other Celestica news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cornerstone Wealth Management LLC bought a new position in Celestica in the 4th quarter worth about $385,000. Quantbot Technologies LP grew its holdings in shares of Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Celestica in the third quarter worth approximately $61,210,000. Sigma Planning Corp purchased a new stake in Celestica in the third quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. lifted its position in Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock valued at $1,682,000 after purchasing an additional 12,584 shares during the last quarter. Institutional investors own 67.38% of the company’s stock.

Celestica Trading Up 6.3 %

The stock’s 50 day simple moving average is $97.35 and its 200 day simple moving average is $71.46. The firm has a market cap of $11.69 billion, a PE ratio of 31.89 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

About Celestica

(Get Free Report)

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.

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