Celestica (NYSE:CLS) Reaches New 12-Month High on Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) shares hit a new 52-week high during mid-day trading on Friday after Royal Bank of Canada raised their price target on the stock from $115.00 to $140.00. Royal Bank of Canada currently has an outperform rating on the stock. Celestica traded as high as $133.66 and last traded at $131.06, with a volume of 4235221 shares. The stock had previously closed at $114.15.

Several other research firms have also issued reports on CLS. Barclays lifted their price objective on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group initiated 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. TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus lifted their target price on shares of Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.64.

Insider Activity at Celestica

In related news, Director Michael Wilson sold 25,000 shares of the firm’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 transaction, the director now directly owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Institutional Trading of Celestica

Institutional investors have recently made changes to their positions in the stock. Optimum Investment Advisors boosted its position in Celestica by 66.7% during the 3rd quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after buying an additional 200 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Celestica during the third quarter valued at about $30,000. Peregrine Capital Management LLC purchased a new stake in shares of Celestica during the fourth quarter worth about $30,000. UMB Bank n.a. bought a new stake in shares of Celestica in the third quarter worth about $34,000. Finally, Private Trust Co. NA increased its holdings in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Celestica Stock Performance

The business has a fifty day moving average of $98.48 and a 200-day moving average of $72.18. The company has a market cap of $14.38 billion, a PE ratio of 33.04 and a beta of 2.25. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Celestica Company Profile

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.