Celestica (NYSE:CLS) Coverage Initiated at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Celestica (NYSE:CLS - Free Report) TSE: CLS in a report issued on Friday, Marketbeat.com reports. The firm issued an overweight rating and a $166.00 price objective on the technology company's stock.

Several other analysts also recently issued reports on the company. UBS Group assumed coverage on Celestica in a research note on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Celestica from $77.00 to $110.00 and gave the company a "buy" rating in a research report on Friday, December 20th. TD Securities raised their price target 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. Barclays boosted their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, Stifel Nicolaus raised their target price on shares of Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and an average price target of $110.83.

Celestica Stock Performance

CLS stock traded down $5.61 during mid-day trading on Friday, hitting $119.41. 4,461,770 shares of the company were exchanged, compared to its average volume of 4,805,599. Celestica has a 1-year low of $38.80 and a 1-year high of $144.27. The stock has a market capitalization of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. The business has a 50 day simple moving average of $110.78 and a 200-day simple moving average of $80.16. 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, Director Michael Wilson sold 25,000 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the sale, the director now directly owns 1,784 shares of the company's stock, valued at $176,134.32. This trade represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $127.54, for a total value of $6,707,073.52. Following the completion of the transaction, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. This represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 959,381 shares of company stock worth $119,142,019 over the last three months. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On Celestica

Several hedge funds and other institutional investors have recently made changes to their positions in CLS. Creative Planning boosted 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 buying an additional 2,714 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Celestica by 63.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 158,242 shares of the technology company's stock valued at $8,089,000 after acquiring an additional 61,135 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Celestica by 26.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,307 shares of the technology company's stock valued at $67,000 after acquiring an additional 275 shares in the last quarter. Private Advisor Group LLC bought a new stake in Celestica during the 3rd quarter worth $934,000. Finally, Global Trust Asset Management LLC acquired a new position in Celestica in the 3rd quarter worth about $51,000. 67.38% of the stock is 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.