Celestica (NYSE:CLS) Stock Price Up 0.4% Following Analyst Upgrade

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) shot up 0.4% during mid-day trading on Monday after Cibc World Mkts upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $126.15 and last traded at $123.99. 4,527,884 shares were traded during trading, a decline of 4% from the average session volume of 4,716,846 shares. The stock had previously closed at $123.47.

Several other analysts have also recently commented on CLS. TD Cowen raised 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. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. CIBC upgraded 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 report on Friday. TD Securities raised their price target on Celestica from $70.00 to $107.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada increased their price target on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Celestica currently has an average rating of “Moderate Buy” and an average target price of $99.64.

Insider Activity at Celestica

In other Celestica news, Director Michael Wilson sold 25,000 shares of Celestica 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 completion of the transaction, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. The trade was a 93.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Celestica

Large investors have recently bought and sold shares of the business. Optimum Investment Advisors grew its stake in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Financial Management Professionals Inc. purchased a new position in Celestica during the third quarter worth about $30,000. Peregrine Capital Management LLC purchased a new position in Celestica in the fourth quarter worth $30,000. UMB Bank n.a. bought a new position in Celestica during the third quarter valued at about $34,000. Finally, Private Trust Co. NA increased its stake in shares of 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 purchasing an additional 720 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

The stock has a market capitalization of $14.55 billion, a P/E ratio of 33.54 and a beta of 2.25. 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 company has a 50 day simple moving average of $98.48 and a 200-day simple moving average of $72.36.

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.