Celestica (NYSE:CLS) Earns Buy Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Celestica (NYSE:CLS) (TSE:CLS) in a research note released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $140.00 target price on the technology company’s stock.

Several other brokerages have also recently weighed in on CLS. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Barclays upped their price objective on shares of Celestica from $91.00 to $139.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on shares of Celestica from $115.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. Finally, TD Securities upped their price objective on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Two research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.27.

Celestica Trading Down 7.2 %

Shares of CLS opened at $133.27 on Tuesday. The business’s 50-day moving average price is $101.31 and its 200-day moving average price is $73.83. Celestica has a twelve month low of $36.00 and a twelve month high of $144.27. The stock has a market cap of $15.51 billion, a PE ratio of 35.63 and a beta of 2.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49.

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 transaction of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company’s stock, valued at approximately $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 9,538 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $1,216,476.52. Following the sale, the president now directly owns 175,426 shares of the company’s stock, valued at approximately $22,373,832.04. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 894,381 shares of company stock valued at $110,706,319 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of Celestica

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whale Rock Capital Management LLC lifted its stake in Celestica by 13.0% in the third quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after acquiring an additional 975,163 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica in the third quarter worth $61,210,000. Point72 Asset Management L.P. lifted its stake in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock worth $55,451,000 after acquiring an additional 301,563 shares during the period. Westfield Capital Management Co. LP lifted its stake in Celestica by 25.8% in the third quarter. Westfield Capital Management Co. LP now owns 536,249 shares of the technology company’s stock worth $27,413,000 after acquiring an additional 109,972 shares during the period. Finally, Broad Peak Investment Advisers Pte Ltd lifted its stake in Celestica by 53.8% in the third quarter. Broad Peak Investment Advisers Pte Ltd now owns 524,245 shares of the technology company’s stock worth $26,799,000 after acquiring an additional 183,300 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

About Celestica

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.