Barclays Forecasts Strong Price Appreciation for Celestica (NYSE:CLS) Stock

Celestica (NYSE:CLS - Free Report) TSE: CLS had its target price increased by Barclays from $139.00 to $157.00 in a report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the technology company's stock.

A number of other research analysts have also weighed in on CLS. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. UBS Group started coverage on shares of Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 target price on the stock. 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 research note on Friday, December 20th. Finally, CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.91.

Celestica Price Performance

Celestica stock traded up $2.38 during midday trading on Thursday, reaching $132.16. The company had a trading volume of 2,707,072 shares, compared to its average volume of 5,877,522. The company has a market capitalization of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27. Celestica has a 12-month low of $36.11 and a 12-month high of $144.27. The firm's fifty day simple moving average is $107.15 and its 200-day simple moving average is $77.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87.

Insider Buying and Selling at Celestica

In other news, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The shares were 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 directly owns 1,784 shares of the company's stock, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yann L. Etienvre sold 83,179 shares of Celestica stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $10,171,128.12. Following the sale, the insider now directly owns 9,224 shares of the company's stock, valued at approximately $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. Insiders sold 959,381 shares of company stock valued at $119,142,019 in the last 90 days. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

A number of institutional investors and hedge funds have recently bought and sold shares of CLS. Creative Planning lifted its position in Celestica by 36.1% in the third quarter. Creative Planning now owns 10,240 shares of the technology company's stock valued at $523,000 after acquiring an additional 2,714 shares during the last quarter. Optimum Investment Advisors lifted its position in Celestica by 66.7% in the third quarter. Optimum Investment Advisors now owns 500 shares of the technology company's stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in Celestica in the third quarter valued at $275,000. Stratos Wealth Advisors LLC lifted its position in Celestica by 20.0% in the third quarter. Stratos Wealth Advisors LLC now owns 4,200 shares of the technology company's stock valued at $215,000 after acquiring an additional 700 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Celestica by 97.3% in the third quarter. Blue Trust Inc. now owns 14,433 shares of the technology company's stock valued at $738,000 after purchasing an additional 7,119 shares during the period. 67.38% of the stock is owned by hedge funds and other 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.