Celestica Inc. (NYSE:CLS) Receives Average Recommendation of “Buy” from Brokerages

Celestica Inc. (NYSE:CLS) (TSE:CLS) has been assigned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $110.83.

CLS has been the subject of a number of research reports. Stifel Nicolaus upped their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group upped their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. assumed coverage on Celestica in a report on Friday, February 21st. They issued an “overweight” rating and a $166.00 price target for the company. Finally, Cibc World Mkts upgraded shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st.

Insider Activity at Celestica

In other news, insider Yann L. Etienvre sold 9,181 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,170,944.74. Following the completion of the sale, the insider now directly owns 83,179 shares in the company, valued at approximately $10,608,649.66. The trade was a 9.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC lifted its holdings in Celestica by 3.2% in the third quarter. Cerity Partners LLC now owns 10,772 shares of the technology company’s stock worth $551,000 after acquiring an additional 338 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Celestica during the 3rd quarter worth approximately $204,000. Private Trust Co. NA lifted its holdings in shares of Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after purchasing an additional 720 shares during the last quarter. D.A. Davidson & CO. boosted its position in Celestica by 66.2% during the 3rd quarter. D.A. Davidson & CO. now owns 12,175 shares of the technology company’s stock valued at $622,000 after purchasing an additional 4,850 shares during the period. Finally, Avestar Capital LLC grew its stake in Celestica by 9.6% during the 3rd quarter. Avestar Capital LLC now owns 5,700 shares of the technology company’s stock worth $291,000 after buying an additional 500 shares during the last quarter. 67.38% of the stock is owned by institutional investors and hedge funds.

Celestica Price Performance

CLS opened at $84.61 on Friday. Celestica has a 52-week low of $40.25 and a 52-week high of $144.27. The company has a 50 day moving average of $108.70 and a two-hundred day moving average of $87.48. The company has a market cap of $9.81 billion, a P/E ratio of 22.62 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

About Celestica

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.