Celestica (NYSE:CLS) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report sent to investors on Friday, Marketbeat reports. The firm issued an overweight rating and a $166.00 price target on the technology company’s stock.

CLS has been the subject of several other reports. UBS Group initiated coverage on shares of 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 increased their target price on shares of Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. TD Cowen lifted their price target on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, CIBC raised Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.83.

Celestica Trading Down 4.5 %

CLS opened at $119.41 on Friday. Celestica has a 12 month low of $38.80 and a 12 month high of $144.27. The stock has a fifty day moving average price of $110.78 and a 200-day moving average price of $80.65. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Buying and Selling at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,170,944.74. Following the sale, the insider now directly owns 83,179 shares of the company’s stock, valued at $10,608,649.66. This represents a 9.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at $67,776,924.18. The trade was a 9.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Celestica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp boosted its stake in shares of Celestica by 39.3% in the fourth quarter. Mackenzie Financial Corp now owns 761,084 shares of the technology company’s stock worth $70,164,000 after buying an additional 214,872 shares during the last quarter. Invst LLC lifted its holdings in Celestica by 11.7% in the fourth 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 during the period. Vise Technologies Inc. lifted its holdings in Celestica by 100.9% in the fourth 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 during the period. Castleark Management LLC acquired a new stake in shares of Celestica during the 4th quarter worth approximately $9,378,000. Finally, Tidal Investments LLC acquired a new stake in shares of Celestica during the 4th quarter worth approximately $495,000. 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.