Celestica (NYSE:CLS) Price Target Cut to $120.00 by Analysts at Royal Bank of Canada

Celestica (NYSE:CLS - Get Free Report) TSE: CLS had its target price cut by stock analysts at Royal Bank of Canada from $160.00 to $120.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's target price would indicate a potential upside of 34.63% from the company's previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price target on shares of Celestica from $140.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Cibc World Mkts raised shares of Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. CIBC lowered their price objective on shares of Celestica from $150.00 to $120.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 15th. TD Securities upped their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. dropped their price target on Celestica from $166.00 to $105.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has an average rating of "Moderate Buy" and a consensus price target of $101.58.

Celestica Stock Performance

NYSE:CLS opened at $89.13 on Tuesday. The stock's 50-day moving average is $89.22 and its 200-day moving average is $92.05. Celestica has a 1-year low of $40.25 and a 1-year high of $144.27. 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 cap of $10.34 billion, a P/E ratio of 23.83 and a beta of 2.09.

Insider Transactions at Celestica

In other Celestica news, insider Alok K. Agrawal sold 6,826 shares of the business'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 value of $914,137.92. Following the completion of the sale, the insider now owns 9,224 shares in the company, valued at approximately $1,235,278.08. The trade was a 42.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares of the company's stock, valued at $14,331,086.28. The trade was a 37.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 934,381 shares of company stock valued at $116,673,769. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its stake in shares of Celestica by 91.2% in the 4th quarter. FMR LLC now owns 11,688,700 shares of the technology company's stock valued at $1,078,804,000 after purchasing an additional 5,574,342 shares during the period. Arrowstreet Capital Limited Partnership boosted its position 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 during the last quarter. FIL Ltd increased its position 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 buying an additional 3,406,723 shares in the last quarter. Invesco Ltd. increased its stake in shares of Celestica by 20.2% in the fourth quarter. Invesco Ltd. now owns 2,942,816 shares of the technology company's stock worth $271,622,000 after purchasing an additional 494,542 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Celestica by 49.5% in 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 acquiring an additional 719,805 shares in the last quarter. Institutional investors own 67.38% of the company's stock.

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.