Celestica (NYSE:CLS) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note issued to investors on Friday, MarketBeat.com reports. The firm set an “overweight” rating and a $166.00 price target on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 39.01% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a research note on Friday, January 31st. TD Securities upped their price target on Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Canaccord Genuity Group upped their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Celestica presently has an average rating of “Moderate Buy” and a consensus price target of $110.83.

Celestica Trading Down 4.5 %

Celestica stock opened at $119.41 on Friday. The firm has a 50 day moving average of $110.78 and a 200 day moving average of $80.39. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. Celestica has a 12-month low of $38.80 and a 12-month high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Insider Activity

In other news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now owns 456,417 shares of the company’s stock, valued at approximately $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 959,381 shares of company stock worth $119,142,019. 1.00% of the stock is currently owned by insiders.

Institutional Trading of Celestica

A number of institutional investors have recently bought and sold shares of CLS. FMR LLC lifted its position in Celestica by 91.2% in the fourth quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after buying an additional 5,574,342 shares during the last quarter. FIL Ltd lifted its position in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after buying an additional 3,406,723 shares during the last quarter. Norges Bank bought a new stake in Celestica in the fourth quarter worth $139,008,000. Polar Capital Holdings Plc lifted its position in Celestica by 822.6% in the fourth quarter. Polar Capital Holdings Plc now owns 1,607,969 shares of the technology company’s stock worth $148,416,000 after buying an additional 1,433,681 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Celestica by 64.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after buying an additional 1,401,877 shares during the last quarter. 67.38% of the stock is currently owned by institutional investors.

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.