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

JPMorgan Chase & Co. initiated coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $166.00 price objective on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. TD Securities raised their target price on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. UBS Group initiated coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 price objective on the stock. BMO Capital Markets upped their target price on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. CIBC raised shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Finally, TD Cowen upped their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $110.83.

Celestica Trading Down 4.5 %

Shares of Celestica stock opened at $119.41 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. Celestica has a twelve month low of $38.80 and a twelve month high of $144.27. The firm has a market capitalization of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. The firm’s 50-day moving average price is $110.78 and its 200 day moving average price is $80.65.

Insider Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yann L. Etienvre sold 9,181 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total transaction of $1,170,944.74. Following the completion of the transaction, the insider now directly owns 83,179 shares in the company, valued at $10,608,649.66. The trade was a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock worth $119,142,019 in the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning boosted its holdings in Celestica by 36.1% during the 3rd quarter. Creative Planning now owns 10,240 shares of the technology company’s stock valued at $523,000 after acquiring an additional 2,714 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Celestica by 63.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company’s stock worth $8,089,000 after purchasing an additional 61,135 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Celestica by 26.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company’s stock worth $67,000 after purchasing an additional 275 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Celestica in the third quarter valued at approximately $934,000. Finally, Global Trust Asset Management LLC purchased a new stake in Celestica during the 3rd quarter worth approximately $51,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

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.