Celestica (NYSE:CLS) Upgraded at CIBC

CIBC upgraded shares of Celestica (NYSE:CLS) (TSE:CLS) from a neutral rating to a sector outperform rating in a report published on Friday, MarketBeat Ratings reports. The brokerage currently has $150.00 price target on the technology company’s stock.

A number of other equities analysts have also recently weighed in on CLS. TD Cowen upped their price target on Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays increased their target price on Celestica from $91.00 to $139.00 and gave the company an “overweight” rating in a report on Thursday. Royal Bank of Canada increased their target price on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Finally, BMO Capital Markets increased their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.64.

Celestica Stock Performance

NYSE CLS opened at $123.57 on Friday. The stock has a market capitalization of $14.38 billion, a price-to-earnings ratio of 33.04 and a beta of 2.25. Celestica has a twelve month low of $32.80 and a twelve month high of $133.66. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $98.48 and a 200 day moving average of $72.36.

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 stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Celestica by 77.3% during the fourth quarter. Global Retirement Partners LLC now owns 1,654 shares of the technology company’s stock worth $153,000 after purchasing an additional 721 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the fourth quarter worth about $30,000. Atria Wealth Solutions Inc. purchased a new position in shares of Celestica during the fourth quarter worth about $215,000. Pinnbrook Capital Management LP purchased a new position in shares of Celestica during the fourth quarter worth about $4,000,000. Finally, D.A. Davidson & CO. grew its holdings in shares of Celestica by 17.0% during the fourth quarter. D.A. Davidson & CO. now owns 14,250 shares of the technology company’s stock worth $1,315,000 after purchasing an additional 2,075 shares during the last quarter. Hedge funds and other 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.