Celestica (NYSE:CLS) Upgraded to “Sector Outperform” at CIBC

Celestica (NYSE:CLS) (TSE:CLS) was upgraded by analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a report released on Friday, MarketBeat reports. The brokerage presently has a $150.00 price objective on the technology company’s stock. CIBC’s target price would suggest a potential upside of 21.39% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price target for the company. Stifel Nicolaus lifted their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. TD Securities increased 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, January 28th. Finally, BMO Capital Markets boosted their target price on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.64.

Celestica Stock Performance

NYSE:CLS opened at $123.57 on Friday. The firm has a market capitalization of $14.38 billion, a PE ratio of 33.04 and a beta of 2.27. Celestica has a 52-week low of $32.80 and a 52-week high of $133.66. The stock has a 50-day simple moving average of $98.48 and a two-hundred day simple moving average of $72.36. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated Monday, January 6th. The shares were 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 represents a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Large investors have recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC increased its position in shares of Celestica by 13.0% in 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 during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica during the 3rd quarter valued at about $61,210,000. Point72 Asset Management L.P. increased its holdings in shares of Celestica by 38.5% in the third 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 during the period. Westfield Capital Management Co. LP raised its stake in shares of Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after purchasing an additional 109,972 shares during the last quarter. Finally, Broad Peak Investment Advisers Pte Ltd grew its position in Celestica by 53.8% during the 3rd quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after purchasing an additional 183,300 shares during the period. 67.38% of the stock is currently owned by 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.