Celestica (NYSE:CLS) Price Target Raised to $157.00

Celestica (NYSE:CLS) (TSE:CLS) had its price target raised by Barclays from $139.00 to $157.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

CLS has been the topic of several other research reports. Stifel Nicolaus assumed coverage on shares of Celestica in a research note on Tuesday, February 4th. They set a “buy” rating and a $140.00 price objective on the stock. BMO Capital Markets raised their price objective on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research report on Friday, January 31st. Finally, Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $104.91.

Celestica Price Performance

Shares of NYSE:CLS opened at $132.16 on Thursday. Celestica has a one year low of $36.11 and a one year high of $144.27. The stock has a market cap of $15.38 billion, a PE ratio of 35.34 and a beta of 2.27. The business’s fifty day moving average price is $107.15 and its two-hundred day moving average price is $77.61. 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

In related news, President Todd C. Cooper sold 65,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now directly owns 110,426 shares of the company’s stock, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total value of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares in the company, valued at $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of CLS. Optimum Investment Advisors raised its stake in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new stake in Celestica during the 3rd quarter worth $30,000. Peregrine Capital Management LLC purchased a new stake in Celestica during the 4th quarter worth $30,000. Pinpoint Asset Management Ltd lifted its holdings in Celestica by 109.6% in the 4th quarter. Pinpoint Asset Management Ltd now owns 348 shares of the technology company’s stock worth $32,000 after buying an additional 182 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in Celestica in the 4th quarter valued at about $42,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.