Celestica (NYSE:CLS) Price Target Cut to $105.00 by Analysts at JPMorgan Chase & Co.

Celestica (NYSE:CLS) (TSE:CLS) had its price target decreased by research analysts at JPMorgan Chase & Co. from $166.00 to $105.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 24.82% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Stifel Nicolaus raised their price target on shares of Celestica from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Canaccord Genuity Group raised their target price on shares of Celestica from $77.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, December 20th. CIBC dropped their price target on Celestica from $150.00 to $120.00 and set an “outperformer” rating on the stock in a research report on Tuesday. Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Barclays upped their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.25.

Celestica Stock Performance

CLS stock opened at $84.12 on Thursday. The stock’s 50 day simple moving average is $94.54 and its 200 day simple moving average is $90.66. Celestica has a 12-month low of $40.25 and a 12-month high of $144.27. The firm has a market cap of $9.75 billion, a P/E ratio of 22.49 and a beta of 2.09. 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 Buying and Selling at Celestica

In related news, CEO Robert Mionis sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the transaction, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This trade represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yann L. Etienvre sold 83,179 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total value of $10,171,128.12. Following the completion of the sale, the insider now owns 9,224 shares of the company’s stock, valued at $1,127,910.72. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 934,381 shares of company stock valued at $116,673,769. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cornerstone Wealth Management LLC acquired a new position in shares of Celestica in the 4th quarter worth approximately $385,000. Raymond James Financial Inc. bought a new stake in Celestica during the fourth quarter worth approximately $47,685,000. Schechter Investment Advisors LLC acquired a new position in Celestica in the fourth quarter worth approximately $294,000. American Century Companies Inc. increased its holdings in shares of Celestica by 16.4% in the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company’s stock valued at $20,217,000 after buying an additional 30,851 shares in the last quarter. Finally, Fruth Investment Management acquired a new stake in shares of Celestica during the 4th quarter valued at $286,000. 67.38% of the stock is currently owned by institutional investors.

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.