TD Securities Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS) (TSE:CLS) had its price objective boosted by stock analysts at TD Securities from $70.00 to $107.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. TD Securities’ target price indicates a potential upside of 6.51% from the company’s current price.

Several other research firms have also recently weighed in on CLS. UBS Group began coverage on shares of Celestica in a report on Friday, November 22nd. They set a “neutral” rating and a $95.00 price objective for the company. Barclays started coverage on shares of Celestica in a research report on Tuesday, November 5th. They set an “overweight” rating and a $91.00 target price on the stock. Canaccord Genuity Group upped their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Stifel Nicolaus raised their price target on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, TD Cowen raised their target price on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three 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 presently has an average rating of “Moderate Buy” and an average price target of $84.82.

Celestica Price Performance

Shares of NYSE:CLS opened at $100.46 on Tuesday. The company’s fifty day moving average price is $97.35 and its 200-day moving average price is $71.46. Celestica has a one year low of $32.55 and a one year high of $131.23. The firm has a market capitalization of $11.69 billion, a price-to-earnings ratio of 31.89 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Buying and Selling

In related news, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. purchased a new position in Celestica during the 3rd quarter worth approximately $61,210,000. Whale Rock Capital Management LLC boosted its position in shares of Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock valued at $432,846,000 after acquiring an additional 975,163 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Celestica by 38.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after purchasing an additional 301,563 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of Celestica by 1,697.3% during the third quarter. Natixis Advisors LLC now owns 233,485 shares of the technology company’s stock worth $11,936,000 after purchasing an additional 220,494 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd increased its stake in shares of Celestica by 53.8% in the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock valued at $26,799,000 after buying an additional 183,300 shares during the period. Institutional investors own 67.38% of the company’s stock.

About Celestica

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.