Celestica Inc. (NYSE:CLS) Receives $110.83 Consensus PT from Brokerages

Shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) have been given an average rating of “Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $110.83.

Several equities analysts recently issued reports on CLS shares. Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Barclays increased their price target on shares of Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. TD Securities increased their price target on shares of Celestica from $70.00 to $107.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday, February 21st. They set an “overweight” rating and a $166.00 price target on the stock.

Celestica Stock Performance

Shares of CLS opened at $87.48 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.39 and a beta of 2.21. The company’s 50 day simple moving average is $111.23 and its 200 day simple moving average is $83.72. Celestica has a 1 year low of $40.25 and a 1 year high of $144.27.

Insider Transactions at Celestica

In related news, insider Alok K. Agrawal sold 6,826 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the sale, the insider now directly owns 9,224 shares of the company’s stock, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert Mionis sold 441,325 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the sale, the chief executive officer now directly owns 531,417 shares of the company’s stock, valued at approximately $64,981,670.76. The trade was a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Celestica

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Celestica by 91.2% during the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company’s stock worth $1,078,804,000 after acquiring an additional 5,574,342 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in Celestica by 13.0% during the 3rd 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 in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Celestica by 64.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company’s stock worth $329,460,000 after acquiring an additional 1,401,877 shares in the last quarter. FIL Ltd grew its holdings in Celestica by 5,976.1% during the 4th quarter. FIL Ltd now owns 3,463,729 shares of the technology company’s stock worth $319,662,000 after acquiring an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Celestica by 20.2% during the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company’s stock worth $271,622,000 after acquiring an additional 494,542 shares in the last quarter. 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.