Celestica (NYSE:CLS) Price Target Raised to $150.00

Celestica (NYSE:CLS) (TSE:CLS) had its target price raised by Stifel Nicolaus from $140.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages have also recently commented on CLS. Royal Bank of Canada boosted their target price on Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a report on Friday, January 31st. TD Cowen boosted their target price 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 lifted their price target on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets lifted their price target on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Price Performance

Shares of NYSE:CLS opened at $119.41 on Wednesday. Celestica has a 12 month low of $38.80 and a 12 month high of $144.27. The stock has a market cap of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. The stock’s 50 day moving average price is $110.78 and its 200 day moving average price is $80.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insiders Place Their Bets

In other Celestica news, President Todd C. Cooper sold 9,538 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,216,476.52. Following the transaction, the president now directly owns 175,426 shares in the company, valued at approximately $22,373,832.04. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Celestica

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in Celestica by 39.3% during the 4th quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after purchasing an additional 214,872 shares in the last quarter. Invst LLC grew its holdings in shares of Celestica by 11.7% during the 4th quarter. Invst LLC now owns 11,243 shares of the technology company’s stock valued at $1,038,000 after acquiring an additional 1,174 shares in the last quarter. Vise Technologies Inc. grew its holdings in shares of Celestica by 100.9% during the 4th quarter. Vise Technologies Inc. now owns 44,564 shares of the technology company’s stock valued at $4,113,000 after acquiring an additional 22,387 shares in the last quarter. Castleark Management LLC purchased a new position in shares of Celestica during the 4th quarter valued at $9,378,000. Finally, Tidal Investments LLC purchased a new position in shares of Celestica during the 4th quarter valued at $495,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.