Royal Bank of Canada Issues Pessimistic Forecast for Celestica (NYSE:CLS) Stock Price

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its target price decreased by equities researchers at Royal Bank of Canada from $160.00 to $120.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's price objective would suggest a potential upside of 34.63% from the company's previous close.

Several other research analysts also recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Celestica from $166.00 to $105.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. CIBC lowered their price target on Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Barclays lifted their target price on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus upped their price target on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $101.58.

Celestica Stock Down 3.3 %

CLS stock traded down $3.01 during trading on Tuesday, hitting $89.13. 6,937,107 shares of the company's stock were exchanged, compared to its average volume of 3,126,830. The business has a 50-day moving average price of $89.22 and a two-hundred day moving average price of $92.28. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 23.83 and a beta of 2.09. Celestica has a 52-week low of $40.25 and a 52-week high of $144.27.

Insider Buying and Selling

In other news, President Todd C. Cooper sold 65,000 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, the president now directly owns 110,426 shares of the company's stock, valued at $14,331,086.28. This represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert Mionis sold 75,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total transaction of $10,596,750.00. Following the completion of the transaction, the chief executive officer now owns 456,417 shares of the company's stock, valued at approximately $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 934,381 shares of company stock worth $116,673,769 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. FMR LLC grew its position in Celestica by 91.2% in the fourth 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. Arrowstreet Capital Limited Partnership boosted its holdings in Celestica by 64.6% in 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 in the last quarter. FIL Ltd boosted its holdings in Celestica by 5,976.1% in the fourth quarter. FIL Ltd now owns 3,463,729 shares of the technology company's stock worth $319,662,000 after purchasing an additional 3,406,723 shares in the last quarter. Invesco Ltd. increased its position in Celestica by 20.2% during the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after buying an additional 494,542 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Celestica by 49.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,173,318 shares of the technology company's stock valued at $200,601,000 after buying an additional 719,805 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.