Celestica (NYSE:CLS) Shares Gap Up Following Analyst Upgrade

Celestica Inc. (NYSE:CLS) (TSE:CLS) gapped up prior to trading on Tuesday after TD Securities raised their price target on the stock from $70.00 to $107.00. The stock had previously closed at $87.36, but opened at $91.65. TD Securities currently has a buy rating on the stock. Celestica shares last traded at $91.17, with a volume of 2,142,439 shares changing hands.

A number of other equities analysts have also recently commented on CLS. Canaccord Genuity Group boosted their price target on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Barclays began coverage on Celestica in a report on Tuesday, November 5th. They issued an “overweight” rating and a $91.00 target price for the company. UBS Group began coverage on Celestica in a report on Friday, November 22nd. They issued a “neutral” rating and a $95.00 target price for the company. BMO Capital Markets upped their target price on Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on Celestica from $75.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.82.

Insiders Place Their Bets

In other news, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Celestica

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of Celestica by 18.9% during the second quarter. Sei Investments Co. now owns 48,230 shares of the technology company’s stock valued at $2,765,000 after acquiring an additional 7,670 shares during the last quarter. Ascent Group LLC purchased a new stake in shares of Celestica during the second quarter valued at approximately $225,000. Creative Planning increased its position in shares of Celestica by 4.7% during the second quarter. Creative Planning now owns 7,526 shares of the technology company’s stock valued at $431,000 after acquiring an additional 336 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Celestica by 54.6% during the second quarter. B. Riley Wealth Advisors Inc. now owns 22,770 shares of the technology company’s stock valued at $1,305,000 after acquiring an additional 8,041 shares during the last quarter. Finally, Truist Financial Corp increased its position in shares of Celestica by 2.0% during the second quarter. Truist Financial Corp now owns 11,008 shares of the technology company’s stock valued at $631,000 after acquiring an additional 214 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Celestica Stock Up 6.3 %

The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $11.69 billion, a PE ratio of 31.89 and a beta of 2.25. The stock has a 50-day moving average of $97.35 and a 200 day moving average of $71.46.

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.