Celestica (NYSE:CLS) Trading 5.5% Higher on Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) traded up 5.5% during trading on Wednesday after TD Securities raised their price target on the stock from $70.00 to $107.00. TD Securities currently has a buy rating on the stock. Celestica traded as high as $102.61 and last traded at $99.72. 1,956,201 shares traded hands during trading, a decline of 48% from the average session volume of 3,726,272 shares. The stock had previously closed at $94.48.

Several other research firms also recently commented on CLS. BMO Capital Markets lifted 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. Royal Bank of Canada lifted their price target on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Stifel Nicolaus increased their price objective on Celestica from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. TD Cowen lifted their target price on shares of Celestica from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group assumed 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. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $84.82.

Insider Buying and Selling at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now directly owns 1,784 shares in the company, valued at approximately $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Optimum Investment Advisors increased its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Celestica during the 3rd quarter valued at approximately $30,000. UMB Bank n.a. purchased a new stake in Celestica in the 3rd quarter worth approximately $34,000. Private Trust Co. NA raised its stake in Celestica by 480.0% during the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock worth $44,000 after acquiring an additional 720 shares during the period. Finally, Global Trust Asset Management LLC purchased a new position in Celestica during the third quarter valued at approximately $51,000. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Celestica Trading Up 6.3 %

The stock’s 50-day simple moving average is $97.35 and its two-hundred day simple moving average is $71.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The firm has a market capitalization of $11.69 billion, a P/E ratio of 31.89 and a beta of 2.25.

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.