Celestica (NYSE:CLS) Trading 3.8% Higher Following Analyst Upgrade

Celestica Inc. (NYSE:CLSGet Free Report) (TSE:CLS) traded up 3.8% during trading on Wednesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $34.48 and last traded at $34.36. 512,423 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,930,818 shares. The stock had previously closed at $33.09.

A number of other analysts also recently weighed in on CLS. BMO Capital Markets upped their target price on shares of Celestica from $32.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Celestica from $32.50 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of Celestica from $33.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday. CIBC upped their target price on shares of Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, TD Securities upped their target price on shares of Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.88.

Read Our Latest Stock Report on Celestica

Institutional Trading of Celestica

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC grew its position in Celestica by 6.4% during the 2nd quarter. Acadian Asset Management LLC now owns 4,042,721 shares of the technology company’s stock valued at $58,714,000 after purchasing an additional 242,872 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Celestica during the 3rd quarter valued at about $1,422,000. Donald Smith & CO. Inc. boosted its holdings in shares of Celestica by 0.5% during the 2nd quarter. Donald Smith & CO. Inc. now owns 5,063,355 shares of the technology company’s stock valued at $73,419,000 after acquiring an additional 24,449 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Celestica during the 3rd quarter valued at about $34,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Celestica by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,319 shares of the technology company’s stock valued at $309,000 after acquiring an additional 1,885 shares during the last quarter. 71.33% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Performance

The business’s fifty day moving average price is $29.13 and its 200-day moving average price is $25.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 1.43. The stock has a market cap of $4.31 billion, a PE ratio of 17.79 and a beta of 2.15.

About Celestica

(Get Free Report)

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through Advanced Technology Solutions, and Connectivity & Cloud Solutions segments. 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.

Featured Stories

Receive News & Ratings for Celestica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celestica and related companies with MarketBeat.com's FREE daily email newsletter.