Celestica Inc. (NYSE:CLS) Receives $110.83 Average Target Price from Brokerages

Celestica Inc. (NYSE:CLS - Get Free Report) TSE: CLS has been given an average rating of "Buy" by the thirteen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $110.83.

CLS has been the subject of several analyst reports. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They set an "overweight" rating and a $166.00 price target for the company. Stifel Nicolaus raised their price target on Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, Cibc World Mkts upgraded shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st.

Insider Activity

In related news, President Todd C. Cooper sold 65,000 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total value of $8,435,700.00. Following the completion of the sale, the president now owns 110,426 shares in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alok K. Agrawal sold 6,826 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total transaction of $914,137.92. Following the completion of the transaction, the insider now directly owns 9,224 shares of the company's stock, valued at $1,235,278.08. This represents a 42.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,381 shares of company stock worth $119,142,019. Insiders own 1.00% of the company's stock.

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Institutional Trading of Celestica

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC boosted its position 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 during the period. Whale Rock Capital Management LLC lifted its position in shares of 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 purchasing an additional 975,163 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Celestica by 64.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,572,988 shares of the technology company's stock worth $329,460,000 after purchasing an additional 1,401,877 shares during the period. FIL Ltd grew its position in Celestica by 5,976.1% during the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock valued at $319,662,000 after purchasing an additional 3,406,723 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Celestica by 20.2% in the 4th quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock valued at $271,622,000 after buying an additional 494,542 shares during the period. Institutional investors and hedge funds own 67.38% of the company's stock.

Celestica Stock Performance

Shares of NYSE:CLS traded down $1.83 during trading on Friday, hitting $82.56. 3,977,992 shares of the company traded hands, compared to its average volume of 2,870,805. The business's fifty day moving average is $108.09 and its 200-day moving average is $88.07. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 22.07 and a beta of 2.21. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. Celestica has a one year low of $40.25 and a one year high of $144.27.

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.