Celestica (NYSE:CLS) Stock Price Expected to Rise, Barclays Analyst Says

Celestica (NYSE:CLS) (TSE:CLS) had its price objective increased by equities researchers at Barclays from $91.00 to $139.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price target would suggest a potential upside of 21.82% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Stifel Nicolaus increased their target price on Celestica from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. BMO Capital Markets increased their price objective on shares of Celestica from $64.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen boosted their price objective on shares of Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada boosted their price target on Celestica from $75.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Celestica presently has an average rating of “Moderate Buy” and an average target price of $89.18.

Celestica Trading Up 13.5 %

NYSE:CLS traded up $13.62 on Thursday, reaching $114.11. The company’s stock had a trading volume of 9,673,285 shares, compared to its average volume of 4,389,904. Celestica has a 1-year low of $32.80 and a 1-year high of $131.23. The business’s 50-day moving average price is $97.35 and its two-hundred day moving average price is $71.46. The firm has a market cap of $13.28 billion, a PE ratio of 36.22 and a beta of 2.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Insiders Place Their Bets

In related news, Director Michael Wilson sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Optimum Investment Advisors increased its holdings in shares of Celestica by 66.7% during the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Celestica during the 3rd quarter worth $30,000. UMB Bank n.a. acquired a new position in Celestica during the third quarter worth about $34,000. Private Trust Co. NA lifted its stake in Celestica by 480.0% in the 3rd quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after purchasing an additional 720 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in shares of Celestica during the 3rd quarter valued at $51,000. 67.38% of the stock is owned by institutional investors and hedge funds.

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.